Question
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
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 $4.7 billion and Cost of Goods Sold of $2.9 billion.
Fiscal Year 2016 2015 Balance Sheet (amounts in millions)
Cash and Cash Equivalents$400$360
Accounts Receivable, net580530
Inventory260270
Prepaid Rent and Other Current Assets585520
Accounts Payable140120
Salaries and Wages Payable380380
Notes Payable (short-term)8814
Other Current Liabilities14250
Current Ratio ?
Inventory Turn Over Ratio?
Accounts Receivable Turn Over Ratio?
Required:
Assuming that all sales are on credit, compute the following ratios for 2016.(Round your answers to 2 decimal places.)
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