5.11. Using the ratios and information given for Wal-Mart Stores, Inc., a retailer, analyze the short-term liquidity and operating efficiency of the firm as of January 31, 2014. 2014 2013 Financial ratios for the years ended January 31, Liquidity Current (times) Quick (times) Cash flow liquidity (times) Average collection period Days inventory held Days payable outstanding Cash conversion cycle Activity Fixed asset turnover (times) Total asset turnover (times) Other information Cash flow from operations (in millions of $) Revenues (in millions of $) 0.88 0.24 0.44 6 days 46 days 38 days 14 days 0.83 0.22 0.46 6 days 46 days 40 days 12 days 4.10 2.31 4.09 2.29 23,257 473,076 25,591 465,604