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Item 8

Item 8 5 points

E13-8 Computing and Interpreting Liquidity Ratios [LO 13-4, LO 13-5]

Cintas Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company reported sales revenue of $4.9 billion and Cost of Goods Sold of $2.1 billion.

Fiscal Year	2016				2015
Balance Sheet (amounts in millions)
Cash and Cash Equivalents		$	210			$	435
Accounts Receivable, net			560				500
Inventories			250				230
Prepaid Rent and Other Current Assets			570				570
Accounts Payable			115				110
Salaries and Wages Payable			100				90
Notes Payable (short-term)			250				0
Other Current Liabilities			350				310

Required: Assuming that all sales are on credit, compute the following ratios for 2016. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)