Selected financial data regarding current assets and current liabilities for Princess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Accounts payable Short-term debt Other current liabilities Total current liabilities Current Ratio Accounts in Ratio Acid-Test Ratio Accounts in Ratio Amounts P*** Amounts $403 271 125 Required: 1. Calculate the current ratio and the acid-test ratio for Princess's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) $977 $1,061 644 969 $2,674

Selected financial data regarding current assets and current liabilities for Princess's Line, a competitor in the cruise line industry, is provided: ($ in millions) Current assets: Cash and cash equivalents Current investments Net receivables Inventory Other current assets Total current assets Current liabilities: Accounts payable Short-term debt Other current liabilities Total current liabilities Current Ratio Accounts in Ratio Acid-Test Ratio Accounts in Ratio Amounts P*** Amounts $403 271 125 Required: 1. Calculate the current ratio and the acid-test ratio for Princess's Line. (Enter your answers in millions, not in dollars. For example, $5,500,000 should be entered as 5.5.) $977 $1,061 644 969 $2,674

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

Chapter5: Evaluating Operating And Financial Performance

Section: Chapter Questions

Problem 4EP

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