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Trim Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company
Trim Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company reported sales revenue of $5.6 billion and Cost of Goods Sold of $3.8 billion. Fiscal Year Balance Sheet (amounts in millions) Cash and Cash Equivalents Accounts Receivable, net Inventories 2016 2015 $490 $485 760 710 305 315 Prepaid Rent and Other Current Assets 720 610 Accounts Payable 185 165 Salaries and Wages Payable 470 470 Notes Payable (short-term) 106 23 23 295 Other Current Liabilities Required: Assuming that all sales are on credit, compute the following ratios for 2016. (Round your answers to 2 decimal places.) Current Ratio Inventory Turnover Ratio Accounts Receivable Turnover Ratio
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