Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending February 2, 2008, are as follows. NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-Year Beginning-of-Year Cash and cash equivalents $ 358 $ 403 Receivables (net) 1,788 684 Merchandise inventory 956 997 Prepaid expenses 78 61 Other current assets 181 597 Total current assets $3,361 $2,742 Total current liabilities $1,635 $1,433 For the year, net sales were $8,828, and cost of goods sold was $5,526 (in millions). Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g. 10.5.) Current ratio :1 Acid-test ratio :1 Receivables turnover times Inventory turnover times Using the data in the chapter, compare Nordstrom's liquidity with (1) that of J.C. Penney Company, and (2) the industry averages for department stores. (Round answers to 1 decimal place, e.g. 10.5.) Ratio Nordstrom J. C. Penney Industry Current :1 :1 :1 Acid-test :1 :1 :1 Receivables turnover :1 :1 :1 Inventory turnover :1 :1 :1 Nordstrom is J.C. Penney for the current ratio Nordstrom is J.C. Penney for the acid-test ratio Nordstrom is J.C. Penney for the receivable turnover Nordstrom is J.C. Penney for the inventory turnover Nordstrom is Industry for the current ratio Nordstrom is Industry for the acid-test ratio Nordstrom is Industry for the receivable turnover Nordstrom is Industry for the inventory turnover