Question: Selected financial statement data for Grayson Ltd are presented below. For the year, net sales were $3894 million, cost of sales was $2600 million, and

Selected financial statement data for Grayson Ltd are presented below.

Cash and cash equivalents Receivables (net) Inventory Prepaid expenses Total current assets

For the year, net sales were $3894 million, cost of sales was $2600 million, and cash from operations was $215 million. 


Required

Calculate the current ratio, quick ratio, current cash debt coverage, receivables turnover, average collection period, inventory turnover, and average days in inventory.

Cash and cash equivalents Receivables (net) Inventory Prepaid expenses Total current assets Total current liabilities End of year ($m) $ 33 378 628 61 $1100 $ 690 Beginning of year ($m) $ 91 271 586 52 $1000 $ 627

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