The current assets and current liabilities for Violet Inc. and Magenta, Inc., are as follows...
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The current assets and current liabilities for Violet Inc. and Magenta, Inc., are as follows at the end of a recent fiscal period: Violet Inc. (in millions) Magenta, Inc. (in millions) Current assets: Cash and cash equivalents $17,357 $5,371 Short-term investments 3,469 2,350 12,568 Accounts receivable 224 1,197 Inventories 1.231 5,087 Other current assets* $12,645 $36,209 Total current assets Current liabilities: $3,954 $8,407 Accounts payable 3,506 5,843 Accrued and other current liabilities $7,460 $14,250 Total current liabilities *These represent prepaid expense and other nonquick current assets. 3. Determine the quick ratio for both companies. If required, round your answers to one decimal place Quick Ratio Violet Inc.: Magenta, Inc.: crack the Work
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