Exercise 13-7 Your answer is partially correct. Try again. Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2019 are presented below. End of Year $ 810 2,070 Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets 880 490 Beginning of Year $ 79 1,890 910 401 $3,280 $1,630 $4,250 $2,040 Total current liabilities For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover and days in inventory at the end of the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio 2.08:1 Accounts receivable turnover 2.86 times Average collection period 127.62 days Inventory turnover 3.99 times Days in inventory 91.48 days Exercise 13-8 Your answer is partially correct. Try again. Marin Inc. had the following transactions involving current assets and current liabilities during February 2019. Feb. 3 Collected accounts receivable of $11,000. 7 Purchased equipment for $36,800 cash. 11 Paid $3,500 for a 1-year insurance policy. 14 Paid accounts payable of $11,000. 18 Declared cash dividends, $5,100. Additional information: As of February 1, 2019, current assets were $126,100 and current liabilities were $35,700. Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal places, e.g. 1.83 : 1.) Current ratio as of February 1, 2019 3.53:1 Feb. 3 3.53):1 Feb. 7 2.50:1 Feb. 11 2.50 Feb. 14 4.66 Feb. 18 3.86:1