Ceres Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2013 fiscal year, the company reported sales revenue of $4.4 billion and Cost of Goods Sold of $2.6 billion.

Fiscal Year	2013			2012
Balance Sheet (amounts in millions)
Cash	$	370		$	345
Accounts Receivable, net		520			470
Inventories		245			255
Prepaid Rent		540			490
Accounts Payable		125			105
Salaries and Wages Payable		350			350
Income Tax Payable		82			11
Notes Payable (short-term)		11			235

Required:

Assuming that all sales are on credit, compute the following ratios for 2013. (Round your answers to 2 decimal places.)

Ceres Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2013 fiscal year, the company reported sales revenue of $4.4 billion and Cost of Goods Sold of $2.6 billion.

Fiscal Year	2013			2012
Balance Sheet (amounts in millions)
Cash	$	370		$	345
Accounts Receivable, net		520			470
Inventories		245			255
Prepaid Rent		540			490
Accounts Payable		125			105
Salaries and Wages Payable		350			350
Income Tax Payable		82			11
Notes Payable (short-term)		11			235

Required:

Assuming that all sales are on credit, compute the following ratios for 2013. (Round your answers to 2 decimal places.)

current ratio

Inventory turn over ratio

A/R turn over ratio