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 $5.9 billion and Cost of Goods Sold of $4.1 billion. Fiscal Year 2016 2015 Balance Sheet (amounts in millions) Cash and Cash Equivalents $520 $420 Accounts Receivable, net 770 Inventories 320 330 Prepaid Rent and Other Current Assets 765 Accounts Payable Salaries and Wages Payable 500 Notes Payable (short-term) Other Current Liabilities 26 310 820 200 640 180 soe 26 112 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