E13-12 (Algo) Computing Asset Turnover, Liquidity, and Solvency Ratios LO 13-5, 13-6, 13-7

Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales)

SHARP (in millions)
	Current Year			Prior Year
Select Income Statement Information
Net revenue	$	4,580		$	4,344
Cost of goods sold		2,679			2,557
Selling, general, and administrative expenses		1,317			1,250
Interest expense		100			98
Income tax expense		247			226
Net income		402			357
Select Statement of Cash Flows Information
Cash paid for interest		79			83
Cash flows from operating activities		678			595
Select Balance Sheet Information
Cash and equivalents		541			408
Marketable securities					20
Accounts receivable		536			547
Inventories		279			282
Prepaid expense and other current assets		54			39
Accounts payable		220			135
Current accrued expenses		447			398
Current portion of long-term debt		15			36
Other current liabilities		130			99
Long-term debt		1,370			1,329

Required:

Compute the following ratios for the current year: (Round your answers to 2 decimal places.)

Receivable turnover ratio
Inventory turnover ratio
Current ratio
Cash ratio
Times interest earned ratio
Cash coverage ratio