Question
Cintas Corporation designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The companys
Cintas Corporation designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The companys stock is traded on the NASDAQ and has provided investors with significant ROEs over the past few years. Selected information from the companys statement of financial position follows. The company reported revenue of $6,478.3 million and cost of sales of $3,653.1 million for fiscal year 2018:
CINTAS CORPORATION | ||||||
Statement of Financial Position | ||||||
As of May 31 | ||||||
(amounts in thousands) | 2018 | 2017 | ||||
Cash and cash equivalents | $ | 155.7 | $ | 186.3 | ||
Short-term investments | 23.9 | |||||
Accounts receivable, less allowance of $35 and $22, respectively | 821.6 | 753.0 | ||||
Inventories, net | 297.3 | 295.2 | ||||
Prepaid expenses | 34.1 | 31.8 | ||||
Accounts payable | 232.1 | 194.1 | ||||
Accrued compensation and related liabilities | 157.7 | 166.6 | ||||
Accrued liabilities | 437.1 | 446.8 | ||||
Debt due within one year | 379.9 | |||||
Required:
Compute the current ratio, quick ratio, inventory turnover ratio, and receivables turnover ratio (assuming that 50 percent of sales were on credit) for 2018. (Do not round intermediate calculations. Round the final answers to 2 decimal places.)
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