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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 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 $6.3 billion and Cost of Goods Sold of $4.5 billion. Fiscal Year 2016 2015 Balance Sheet (amounts in millions) Cash and Cash Equivalents $560 $440 Accounts Receivable, net 900 850 Inventories 340 350 Prepaid Rent and Other Current Assets 825 680 Accounts Payable 220 Salaries and Wages Payable 540 540 Notes Payable (short-term) 120 30 Other Current Liabilities 30 330 200 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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