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 2007, the company reported sales revenue of $3,706,900 and cost of goods sold of $1,515,815.

Required:
Compute the current ratio, inventory turnover ratio, and accounts receivable turnover ratio (assuming that 60 percent of sales were oncredit).

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CINTAS Balance Sheet (amounts in thousands) 2007 2006 $ 35,360 120,053 S 38,914 202,539 Cash Marketable securities Accounts receivable, net Inventories 408,870 389,905 198,000 11,163 71,635 231,741 15,781 Prepaid expense Accounts payable 64,622 Accrued taxes 70,763 263,512 4,141 95,363 239,061 26,653 Accrued liabilities Long-term debt due within one year