Selected financial data regarding current assets and current liabilities for a company, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents $ 307 Current investments 82 Net receivables 218 Inventory 122 Other current assets 138 Total current assets $ 867 Current liabilities: Accounts payable $ 1,165 Short-term debt 709 Other current liabilities 904 Total current liabilities $ 2,778 Required: 1. Calculate the current ratio and the acid-test ratio for the company. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.)
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