Question 15 Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected...

 

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Question 15 Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for a recent year. NORDSTORM, INC. Balance Sheet (partial) End-of-Year (in millions) Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Other current assets Total current assets Total current liabilities $ 1,511 3,867 1,706 167 452 $7,703 $3,827 Beginning-of-Year $ 137 3,690 1,710 177 399 $6,113 $3,042 For the year, net sales were $15,690 and cost of goods sold was $10,123 (in millions). (a) Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio :1 Acid-test ratio :1 Accounts receivable turnover times Inventory turnover times Question 15 Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for a recent year. NORDSTORM, INC. Balance Sheet (partial) End-of-Year (in millions) Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Other current assets Total current assets Total current liabilities $ 1,511 3,867 1,706 167 452 $7,703 $3,827 Beginning-of-Year $ 137 3,690 1,710 177 399 $6,113 $3,042 For the year, net sales were $15,690 and cost of goods sold was $10,123 (in millions). (a) Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio :1 Acid-test ratio :1 Accounts receivable turnover times Inventory turnover times

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