E13-8 Computing and Interpreting Liquidity Ratios (LO 13-4, LO 13-5) Trim Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company reported sales revenue of $5.8 billion and Cost of Goods Sold of $4.0 billion. Fiscal Year 2016 Balance sheet (amounts in mi111ona) 2015 Canh and Cash Equivalente $510 $415 Accounts Receivable, net 800 250 Inventories 315 325 Prepaid Rent and other current onets 750 630 Accounts Payable Salaries and Wages Payable 450 Notes Payable (abort-term) 25 Other Current Liabilities 25 305 175 195 490 110 Required: Assuming that all sales are on credit, compute the following ratios for 2016. (Round your answers to 2 decimal places.) Current Ratio Inventory Turnover Ratio Accounts Receivable Turnover Ratio