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E13-8 (Algo) Computing and Interpreting Liquidity Ratios (LO 13-4, LO 13-5] Granite, Incorporated 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 $5.3 billion and Cost of Goods Sold of $3.5 billion. 2019 2018 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) Other Current Liabilities $ 460 700 290 675 170 440 100 20 $ 390 650 300 580 150 440 20 280 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