Airline Accessories has the following current assets: cash, $109 million; receivables, $101 million; inventory, $189 million; and other current assets, $25 million. Airline Accessories has the following liabilities: accounts payable, $112 million; current portion of long-term debt, $42 million; and long-term debt, $30 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories.
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