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SupposeNordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014. NORDSTORM, INC.
SupposeNordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014.
NORDSTORM, INC. Balance Sheet (partial) | ||
(in millions) | End-of-Year | Beginning-of-Year |
Cash and cash equivalents | $ 1,153 | $ 104 |
Accounts receivable (net) | 2,951 | 2,816 |
Inventory | 1,302 | 1,305 |
Prepaid expenses | 128 | 135 |
Other current assets | 345 | 305 |
Total current assets | $5,879 | $4,665 |
Total current liabilities | $2,920 | $2,321 |
For the year, net sales were $11,974 and cost of goods sold was $7,726 (in millions).
(a)
Compute the four liquidity ratios at the end of the year.(Round answers to 1 decimal place, e.g. 1.6 .)
Current ratio | :1 | |
Acid-test ratio | :1 | |
Accounts receivable turnover | times | |
Inventory turnover | times |
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