Exercise 18-5

SupposeNordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014.

NORDSTORM, INC. Balance Sheet (partial)
(in millions)	End-of-Year	Beginning-of-Year
Cash and cash equivalents	$ 1,232	$ 112
Accounts receivable (net)	3,154	3,010
Inventory	1,392	1,395
Prepaid expenses	136	144
Other current assets	369	326
Total current assets	$6,283	$4,987
Total current liabilities	$3,122	$2,482

For the year, net sales were $12,800 and cost of goods sold was $8,258 (in millions).

(a)

Compute the four liquidity ratios at the end of the year.(Round answers to 1 decimal place, e.g. 1.6 .)

Current ratio		:1
Acid-test ratio		:1
Accounts receivable turnover		times
Inventory turnover		times