Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending January
Question:
For the year, net credit sales were $8,272, and cost of goods sold was $5,417 (in millions).
Instructions
(a) Compute the four liquidity ratios at the end of the year.
(b) Using the data in the chapter, compare Nordstroms liquidity with
(1) That of J.C. Penney Company, and
(2) The industry averages for departmentstores.
Transcribed Image Text:
NORDSTROM, INC Balance Sheet (partial) in millions) End-of-Year Beginning-of-Year 358 1,788 956 Cash and cash equivalents Accounts receivable (net) Merchandise inventory Prepaid expenses Other current assets Total current assets Total current liabilities $ 72 1.942 900 93 210 $3.217 78 181 $3,361 $1,635 $1.601
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a Current ratio 201 3217 1601 Acidtest ratio 1261 2014 1601 Receivables ...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0470507018
7th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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