Answer:
1-a. ACME corporation is 1.26
Wayne corporation is 1.09
1-b. ACME corporation
Explanation:
                                      ACME ($ in millions)               Wayne ($ in millions) 
Total current assets          $ 12,987                                 $ 8,258 
Total current liabilities      $ 10,301                                  $ 7,545
1-a) Formula for calculating current ratio: Current ratio = Current assets ÷ Current liabilities
ACME corporation, current ratio = $ 12,987 million ÷ $ 10,301 million  = 1.26
Wayne corporation, Current ratio = $ 8,258 million ÷ $7,545 million = 1.09
1-b. The higher the current ratio, the better the liquidity position. ACME corporation has the better ratio.