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Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information

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Sharp Uniforms designs and manufactures uniforms for corporations throughout the United States and Canada. The company's stock is traded on the NASDAQ. Selected information from the company's financial statements follows. (assume that all sales were credit sales) SHARP (in millions) Current Year Prior Year Select Income Statement Information Net revenue Cost of goods sold Interest expense Income tax expense Net income $ 4,588 2,691 $ 4,352 2,565 Selling, general, and administrative expenses 1,321 1,258 108 106 251 238 410 369 Select Statement of Cash Flows Information Cash paid for interest 83 87 Cash flows from operating activities 698 607 Select Balance Sheet Information Cash and equivalents 549 424 Marketable securities 24 Accounts receivable 544 559 Inventories 287 294 Prepaid expense and other current assets 62 43 Accounts payable 240 139 Current accrued expenses 467 414 Current portion of long-term debt 19 44 Other current liabilities 138 103 Long-term debt 1,390 1,337

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