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 $47 billion and Cost of Goods Sold of $2.9 billion 2016 2015 Balance Sheet (ancunts in millions) Cash and Cash Equivalents $400 $360 Accounts Receivable, net Inventories Prepaid Rent and Other Current Assets Accounts Payable Salaries and Wages Payable Notes Payable (short-term) Other Current Liabilities 580 260 585 140 380 88 14 530 270 520 120 380 14 250 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