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Johnston designs and manufactures uniforms for corporations throughout the United States and Canada. Selected information from the company's financial statements follows. (assume that all sales
Johnston designs and manufactures uniforms for corporations throughout the United States and Canada. Selected information from the company's financial statements follows. (assume that all sales were credit sales)
JOHNSTON (in millions) | ||
---|---|---|
Current Year | Prior Year | |
Select Income Statement Information | ||
Net revenue | $4,592 | $4,356 |
Cost of goods sold | 2,697 | 2,569 |
Selling, general, and administrative expenses | 1,323 | 1,262 |
Interest expense | 112 | 110 |
Income tax expense | 253 | 244 |
Net income | 414 | 375 |
Select Statement of Cash Flows Information | ||
Cash paid for interest | 85 | 89 |
Cash flows from operating activities | 708 | 613 |
Select Balance Sheet Information | ||
Cash and equivalents | 553 | 432 |
Marketable securities | - | 26 |
Accounts receivable | 548 | 565 |
Inventories | 291 | 300 |
Prepaid expense and other current assets | 66 | 45 |
Accounts payable | 250 | 141 |
Current accrued expenses | 477 | 422 |
Current portion of long-term debt | 21 | 48 |
Other current liabilities | 142 | 105 |
Long-term debt | 1,400 | 1,341 |
Required:
Compute the following ratios for the current year:
Note: Round your answers to 2 decimal places.
\begin{tabular}{|l|l|} \hline Receivable turnover ratio & \\ \hline Inventory turnover ratio & \\ \hline Current ratio & \\ \hline Cash ratio & \\ \hline Times interest earned ratio & \\ \hline Cash coverage ratio & \\ \hline \end{tabular}
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