Question
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
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 $4,572 $ 4,336 Cost of goods sold 2,667 2,549 Selling, general, and administrative expenses 1,313, 1,242 Interest expense 92 90 Income tax expense 243 214 Net income 394 345 Select Statement of Cash Flows Information Cash paid for interest Cash flows from operating activities Select Balance Sheet Information Cash and equivalents 75 79 658 583 533 392 Marketable securities 16 Accounts receivable 528 535 Inventories 271 270 Prepaid expense and other current assets 461 35 Accounts payable 200 131 Current accrued expenses 427 382 Current portion of long-term debt 11 28 Other current liabilities 122 95 1,350 1,321 Long-term debt Required: Compute the following ratios for the current year: (Round your answers to 2 decimal places.) Receivable turnover ratio Inventory turnover ratio. Current ratio : Cash ratio Times interest earned ratio
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