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Sandhill Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. SANDHILL INC. Balance Sheet (partial) December 31 (in
Sandhill Inc. operates gaming stores across the country. Selected comparative financial statement data are shown below. SANDHILL INC. Balance Sheet (partial) December 31 (in millions) 2024 2023 2022 Current assets Cash $763 $90 $59 Short-term investments 56 59 39 Accounts receivable 676 580 495 Inventory 890 523 573 Prepaid expenses 46 49 27 Total current assets $2,431 $1,301 $1,193 Total current liabilities $1,894 $821 $749 Additional information: (in millions) 2024 2023 Net credit sales $8,257 $3,937 Cost of goods sold 5,325 2,647 (a) Calculate the following liquidity ratios for 2024 and 2023. (Round current ratio and acid-test ratio to 2 decimal places, e.g. 0.75:1, receivables turnover and inventory turnover to 1 decimal place, e.g. 52.7 and collection period, days sales in inventory and operating cycle to O decimal places, e.g. 125.) Current ratio Acid-test ratio Receivables turnover Collection period Inventory turnover 2024 :1 :1 times 2023 :1 :1 times days days times times Days sales in inventory days days Operating cycle days days
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