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Carla Vista Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. CARLA VISTA INC. Balance Sheet (partial) December 31
Carla Vista Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. CARLA VISTA INC. Balance Sheet (partial) December 31 (in millions) 2021 2020 2019 Current assets Cash $768 $89 $59 60 59 40 679 583 492 891 524 573 Short-term investments Accounts receivable Inventory Prepaid expenses Total current assets Total current liabilities 45 49 26 $2,443 $1,893 $1,304 $824 $1,190 $749 Additional information: (in millions) Net credit sales Cost of goods sold 2021 $8,259 5,329 2020 $3,939 2,647 Calculate the following liquidity ratios for 2021 and 2020. (Round current ratio and acid-test ratio to 2 decimal places, e.g. 0.75:1, receivables turnover and inventory turnover to 1 decimal place, e.g. 52.7 and collection period, days sales in inventory and operating cycle to 0 decimal places, e.g. 125.) 2021 2020 Current ratio :1 :1 Acid-test ratio :1 :1 Receivables turnover times times Collection period days days Inventory turnover times times Days sales in inventory days days Operating cycle days days
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