Coven Ca ... 19 ACCTO01A_74684 > Fal19 ACCT 001A #74684 FINANCIAL ACCOUNTING Compute liquidity ratios. (LO3), AP E13-7 Nordstrom, Inc, operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2017 are presented below. End of Year Beginning of Year Cash and cash equivalents $ 795 $ 72 Accounts receivable (net) 2,035 1,942 Inventory 898 900 Other current assets 326 303 Total current assets $4,054 $3,217 Total current liabilities $2,014 $1,601 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year. Perform current ratio analysis. (LO 3), AP E13-8 Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2017 Feb. 3 Collected accounts receivable of $15,000. 7 Purchased equipment for $23,000 cash. 689 0 Aa ^. * 4* ENG 2121 e to search o ' e - a