Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending January
Question:
Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 30, 2010, are shown below.
For the year, net sales were $8,258 and cost of goods sold was $5,328 (in millions).
Instructions
(a) Compute the four liquidity ratios at the end of the year.
(b) Using the data in the chapter, compare Nordstrom?s liquidity with (1) that of J.C. Penney Company, and (2) the industry averages for department stores.
Transcribed Image Text:
Nordstrom, Inc. Balance Sheet (partial) End-of-Year (in millions) Beginning-of-Year $ 72 1,942 900 $ 795 Cash and cash equivalents Accounts receivable (net) Merchandise inventory Prepaid expenses Other current assets 2,035 898 88 93 238 210 $4,054 $3,217 Total current assets $2.014 $1,601 Total current liabilities
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a b Nordstrom is similar to JC Penney for the current and ac...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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