Cintas Corporation is the largest uniform supplier in North America, providing products and services to approximately 800,000 businesses of all types. Selected information from its 2010 annual report follows. For the 2010 fiscal year, the company reported sales revenue of $2.6 billion and Cost of Goods Sold of $1.5 billion.

Required:
Assuming that all sales are on credit, compute the current ratio (two decimal places), inventory turnover ratio (one decimal place), and accounts receivable turnover ratio (one decimal place) for 2010. Explain what each ratio means forCintas.

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Fiscal Year 2010 2009 Balance Sheet (amounts in millions) as Accounts Receivable, less allowance of $14 and $20 Inventories Prepaid Expenses Other Current Assets Accounts Payable Wages Payable Income Tax Payable Other Current Liabilities $411 366 169 13 566 72 67 $130 358 202 17 563 70 48 245 173