Exercise 2-9

Nordstrom, Inc.operates department stores in numerous states. Suppose selected financial statement data (in millions of dollars) for a recent year follows.

End of YearBeginning of YearCash and cash equivalents

$60$301Receivables (net)

1,6311,502Merchandise inventory

756803Other current assets

255218Total current assets

$2,702$2,824Total current liabilities

$1,598$1,630

Compute working capital and the current ratio at the beginning of the year and at the end of the year.(Round current ratio to 2 decimal places, e.g. 15.25.)

End of Year

Beginning of Year

Working capital

$enter a dollar amount

$enter a dollar amount

Current ratio

enter current ratio rounded to 2 decimal places

:1enter current ratio rounded to 2 decimal places

:1