Answered step by step
Verified Expert Solution
Question
1 Approved Answer
value 1.00 points Cintas designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada.
value 1.00 points Cintas designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The company's stock is traded on the NASDAQ and has provided investors with significant returns over the past few years. Selected information from the company's balance sheet follows. For 2012, the company reported sales revenue of $3,708,500 and cost of goods sold of $1,517,615. CINTAS Balance Sheet (in thousands) 2012 35,369 $ Cash Marketable securities Accounts receivable Inventories Prepaid expense and other Accounts payable Accrued compensation and related liabilities Accrued liabilities Accrued tax liability Long-term debt due within one year 408,872 231,743 15,781 64,630 70,766 263,516 2,572 4,149 2011 $ 38,929 202,550 389,922 198,001 15,781 71,648 95,370 239,069 26,673 Required: Compute the current ratio, inventory turnover ratio, and accounts receivablo turnover ratio (assuming that 70 percent of sales were on credit) (Round your answers to 1 decimal place.) Current ratio Inventory turnover ratio Accounts receivable turnover ratio enove
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started