ACCT – Suppose Nordstrom, Inc., which operates department stores in numerous states

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Description

Suppose Nordstrom, 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 $ 795 $ 72
Accounts receivable (net) 2,035 1,942
Inventory 898 900
Prepaid expenses 88 93
Other current assets 238 210
Total current assets $4,054 $3,217
Total current liabilities $2,014 $1,601

For the year, net sales were $8,258 and cost of goods sold was $5,328 (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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