Cintas Corporation designs, manufactures, and Implements corporate Identity uniform programs that it rents or sells to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Cintas Corporation designs, manufactures, and Implements corporate Identity uniform programs that it rents or sells to customers throughout the United States and Canada. The company's stock is traded on the NASDAQ and has provided Investors with significant ROES over the past few years. Selected Information from the company's financial statements follows. CINTAS CORPORATION (in millions) Select Statement of Earnings Information Net revenue Cost of sales Selling, general, and administrative expenses Interest expense, net Income tax expense Current Year Prior Year $ 7,854.5 4,222.2 2,044.9 88.6 263.0 1,235.8 Net earnings Select Statement of Cash Flows Information Cash paid for interest 81.4 Cash flows from operating activities 1,537.6 Select Statement of Financial Position Information Cash and cash equivalents 90.5 $ 493.6 Accounts receivable, net 1,006.2 901.7 Inventories, net 472.2 481.8 Uniforms and other rental items in service 916.7 810.1 Income taxes receivable, current 21.7 22.3 Prepaid expenses and other current assets 124.7 133.8 Accounts payable Accrued compensation and related liabilities Accrued liabilities 251.5 230.8 237.0 241.5 588.9 518.9 Operating lease liabilities, current 43.9 43.9 311.6 899.1 Debt due within one year Required: Compute the following ratios for the current year: receivables turnover ratio (assuming that all sales were on credit). Inventory turnover ratio, current ratio, quick ratio, and times Interest earned ratio. Comment on the liquidity position of the company. The reported Interest expense is net of $0.2 million In Interest Income. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Receivables turnover ratio times Inventoryturnover times Current ratio Quick ratio Cintas Corporation designs, manufactures, and Implements corporate Identity uniform programs that it rents or sells to customers throughout the United States and Canada. The company's stock is traded on the NASDAQ and has provided Investors with significant ROES over the past few years. Selected Information from the company's financial statements follows. CINTAS CORPORATION (in millions) Select Statement of Earnings Information Net revenue Cost of sales Selling, general, and administrative expenses Interest expense, net Income tax expense Current Year Prior Year $ 7,854.5 4,222.2 2,044.9 88.6 263.0 1,235.8 Net earnings Select Statement of Cash Flows Information Cash paid for interest 81.4 Cash flows from operating activities 1,537.6 Select Statement of Financial Position Information Cash and cash equivalents 90.5 $ 493.6 Accounts receivable, net 1,006.2 901.7 Inventories, net 472.2 481.8 Uniforms and other rental items in service 916.7 810.1 Income taxes receivable, current 21.7 22.3 Prepaid expenses and other current assets 124.7 133.8 Accounts payable Accrued compensation and related liabilities Accrued liabilities 251.5 230.8 237.0 241.5 588.9 518.9 Operating lease liabilities, current 43.9 43.9 311.6 899.1 Debt due within one year Required: Compute the following ratios for the current year: receivables turnover ratio (assuming that all sales were on credit). Inventory turnover ratio, current ratio, quick ratio, and times Interest earned ratio. Comment on the liquidity position of the company. The reported Interest expense is net of $0.2 million In Interest Income. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Receivables turnover ratio times Inventoryturnover times Current ratio Quick ratio
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
What is the overall Process Flow and Systematic Layout at Home Depot.
-
Cintas 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...
-
The following selected financial data pertains to four unidentified companies: COMPANIES 1 2 3 4 balance sheet data (component percentage) Money 3.5 4.7 8.2 11.7 accounts receivable 16.9 28,9 16.8...
-
Prepare a sensitivity analysis question with an Excel Sensitivity analysis report and answer it. Make sure your question asks about the following a. Optimal solution b. Optimal objective function c....
-
1. Show that the cube C2 = {x R2: - c 2. Suppose for any n = 2, 3, . . . , that the cube Cn-1 conv{(±c, ±c,. . . ±)} Rn-1. Show that n-dimensional cube Cn conv{(±c,...
-
(a) Does the position of the slab in Figure 26.9 affect the potential difference across the capacitor? Consider, in particular, the case in which the slab is moved all the way to one side and makes...
-
During 1998, the Senbet Discount Tire Company had gross sales of \($1\) million. The firms cost of goods sold and selling expenses were \($300,000\) and \($200,000,\) respectively. These figures do...
-
Multiple Choice. Choose the best answer. 1. Which of the following correctly states the role of budgeting in proprietary funds? a. Proprietary fund managers should ensure that a valid appropriation...
-
QuestionOne (1)1A).Louise's monthly gross income is $2,000. Her employer withholds$400 in federal, state, and local income taxes and $160 in SocialSecurity taxes per month. Louise contributes $8 2...
-
Alpha Airlines has ordered a new fleet of DC- 717s. At this stage of the contract, Alpha's operations manager must specify the seating configuration on the aircraft that will be used on the...
-
Karlene Industries produces plastic ice cube trays in two processes: heating and stamping. All materials are added at the beginning of the Heating Department process. Karlene uses the weighted...
-
Compostela Farms, Inc. grows and sells tomatoes and tomato products.Each plot yields 1,500 pounds of tomatoes, referred to as a load; of the 1,500 pounds, 1,000 pounds are Grade A tomatoes and 500...
-
X Corp obtained the balances of different accounts at the end of 2010 as follows: Over-applied overhead P 22,000, Work in Process P 128,000, Finished Goods P 32,000; Cost of goods Sold P 240,000. The...
-
1. A spherical star of one solar mass and R = 0.5 solar radii rotates once every 60 days. At the end of its nuclear burning it collapses to a radius of 70 km. If 4 of the mass is lost in the...
-
23 2. Determine [(7x+2) dx_it [ f(x) dx =10. 3. Solve the following initial-value problem. Show all your work. dy -=sec x-sinx, y(/4)=1. dx 4. Find the area of the region enclosed by the following...
-
Use the following information to complete questions 7-17 through 7-20. Product Sales at split-off 1 $130,000 2 $50,000 3 $20,000 $200,000 Units at split-off 240 960 1,200 2,400 7-17 What percentage...
-
We learned that the most important civic responsibility is to vote. But we know that too many people just don't vote. In Lee County, for example, the voter turnout for presidential elections has...
-
The area of square PQRS is 100 ft2, and A, B, C, and D are the midpoints of the sides. Find the area of square ABCD. B A
-
Consider the function \(u=\sin x\). Apply the forward difference (4.4), backward difference (4.9), and central difference (4.10) to evaluate the derivative \(d u / d x\) at \(x=1.0\). Use the uniform...
-
Write the schemes similar to (4.4), (4.9), and (4.10) for \(\partial u /\left.\partial y ight|_{i, j}\).
-
Write the schemes similar to (4.17), (4.18), and (4.19) for \(\partial^{2} u /\left.\partial y^{2} ight|_{i, j}\).
Study smarter with the SolutionInn App