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Cullumber Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. CULLUMBER INC. Balance Sheet (partial) December 31 (in
Cullumber Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. CULLUMBER INC. Balance Sheet (partial) December 31 (in millions) 2024 2023 2022 Current assets Cash $739 $90 $59 Short-term investments 57 58 40 Accounts receivable 680 581 495 Inventory 900 523 573 Prepaid expenses 45 52 26 Total current assets $2,421 $1.304 $1,193 Total current liabilities $1,885 $822 $747 Additional information: (in millions) 2024 2023 Net credit sales $8.256 $3,938 Cost of goods sold 5,328 2,646 Additional information: (in millions) 2024 2023 Net credit sales $8,256 $3,938 Cost of goods sold 5,328 2,646 (a) Calculate the following liquidity ratios for 2024 and 2023. (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 cyc to O decimal places, e.g. 125.) Current ratio Acid-test ratio Receivables turnover 2024 :1 :1 times 2023 :1 :1 times Collection period days days Inventory turnover times times Days sales in inventory days days Operating cycle days days
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