Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2005, are as follows. NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-Year Beginning-of-Year Cash and cash equivalents $ 361 $ 340 Receivables (less allowance of 19 and 20) 646 667 Merchandise inventory 917 902 Prepaid expenses 53 46 Other current assets 595 570 Total current assets $2,572 $2,525 Total current liabilities $1,341 $1,123 For the year, net sales were $7,131, and cost of goods sold was $4,559 (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 following table, 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 5.7 :1 1.3 :1 Acid-test :1 1.2 :1 0.3 :1 Receivables turnover times 69.0 times 10.8 times Inventory turnover times 3.6 times 6.7 times Nordstrom is J.C. Penney for the current and acid-test ratios and the receivables turnover. Nordstrom is than J.C. Penney for inventory turnover. Nordstrom is than the industry average for the current and acid test ratios and the receivables turnover, but the industry average for the inventory turnover ratio. Click here if you would like to Show Work for this