E13-8 (Algo) Computing and Interpreting Liquidity Ratios [LO 13-4, LO 13-5] Violet Industries is the largest...

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E13-8 (Algo) Computing and Interpreting Liquidity Ratios [LO 13-4, LO 13-5] Violet Industries is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2019 fiscal year, the company reported sales revenue of $6.2 billion and Cost of Goods Sold of $4.4 billion. Fiscal Year Balance Sheet (amounts in millions) Cash and Cash Equivalents Accounts Receivable, Net Inventory Prepaid Rent and Other Current Assets Accounts Payable Salaries and Wages Payable Notes Payable (short-term) 2019 2018 $ 550 $ 435 880 830 335 345 810 670 215 195 530 530 118 29 29 325 Other Current Liabilities Required: Assuming that all sales are on credit, compute the following ratios for 2019. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Current Ratio Inventory Turnover Ratio Accounts Receivable Turnover Ratio E13-8 (Algo) Computing and Interpreting Liquidity Ratios [LO 13-4, LO 13-5] Violet Industries is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2019 fiscal year, the company reported sales revenue of $6.2 billion and Cost of Goods Sold of $4.4 billion. Fiscal Year Balance Sheet (amounts in millions) Cash and Cash Equivalents Accounts Receivable, Net Inventory Prepaid Rent and Other Current Assets Accounts Payable Salaries and Wages Payable Notes Payable (short-term) 2019 2018 $ 550 $ 435 880 830 335 345 810 670 215 195 530 530 118 29 29 325 Other Current Liabilities Required: Assuming that all sales are on credit, compute the following ratios for 2019. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Current Ratio Inventory Turnover Ratio Accounts Receivable Turnover Ratio