Question: Compute the current ratio, quick ratio, inventory turnover ratio, and receivables turnover ratio (assuming that 50 percent of sales were on credit) for 2018.

ratio (assuming that 50 percent of sales were on credit) for 2018.

Compute the current ratio, quick ratio, inventory turnover ratio, and receivables turnover ratio (assuming that 50 percent of sales were on credit) for 2018. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) CINTAS CORPORATION Statement of Financial Position As of May 31 Camounts in thousands) Cash and cash equivalents Short-term investments Accounts receivable, less allowance of $36 and $22, respectively Inventories, net Prepaid expenses Accounts payable Accrued compensation and related liabilities. Accrued liabilities Debt due within one year 2018 2017 $158.7 $189.3 24.2 824.6 300.3 34.4 235,1 160.7 440.1 756.0 298.2 32.1 197.1 169.6 449.8 382.9

Step by Step Solution

★★★★★

3.50 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To compute the sales for 2018 we can use the information given about accounts receivables Since 50 o... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The treasurer of Kelly Bottling Company (a corporation) currently has $200,000 invested in preferred stock yielding 10 percent. He appreciates the tax advantages of preferred stock and is considering...

Question 17 In amplitude modulation, bandwidth is.. A Twice B) Three times Four times (D) None of the above ............the audio signal frequency

What is the projects NPV? Explain the economic rationale behind the NPV. Could the NPV of this project be different for GP Manufacturing than for one of Chino Material Systems Inc.s other potential...

please provide quick ratio and receivables turnover ratio Cintas Corporation designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout...

Cintas Corporation designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The companys stock is traded...

You own 2 bonds, each with a face value of $1000. These are namely a 4 year bond with a 5% p.a. annual coupon and a 5 year bond with a 5% p.a. semi-annual coupon. Current market yield is 6% p.a. 4...

Cintas designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The companys stock is traded on the...

please help me solving this Required: Compute the cuirrent ratio, quick ratio, inventory turnover ratio, and recelvables tumover ratio (assuming that 50 percent of sales were on credit) for 2018. (Do...

Michigan Corp. has prepared the following financial statements: Michigan Corp. Michigan Corp. Income Statement Balance Sheet For the Year Ended Dec. 31 2019 As of Dec. 31 2019 2019 2018 Assets 2019...

336 PART 4 FURTHER CASE STUDIES CASE 6 VALUATION RATIOS IN THE RETAIL INDUSTRY 2016 TO 2018 This case relates to Chapters 5, 7 and 8. 585 stores. The management commentary includes the Jessica...

Estimate the MIRR for the project described in Problem 8. Does it change your decision on accepting this project?

Which of the following statements does not properly state a basic principle for reporting an accounting change? A. retrospectively apply a change in accounting principle B. prospectively account for...

The updating of a cruel accounting records before preparing financial statements is referred to as the blank

Smith Company can produce two types of carpet cleaners, Brighter and Cleaner. Data on these two products are as follows: The number of machine hours to produce one unit of Brighter is 1 while the...

Lawn Master Company, a manufacturer of riding lawn mowers, has a projected income for 2010 as follows: Required 1. Determine the breakeven point in sales dollars. 2. Determine the required sales in...

For the most recent year, Triad Company had fixed costs of $240,000 and variable costs of 75% of total sales revenue, earned $70,000 of net income after taxes, and had an income tax rate of 35%....

Sequel Theatre, owned by Nadia Wood, is unique as it shows only movies that are part of a theme with sequels. As at April 30, 2017, the ledger of Sequel Theatre showed the following: Cash $18,900,...

Badger Corporation was incorporated in the current year. It reports an $8,000 NOL on its initial tax return. Badger distributes $2,500 to its shareholders. Is it possible for this distribution to be...

What is the seasonal turn for a department that has an average of 13 weeks of supply? Question 6 options: A)3.0 B)2.0 C)1.3 D)8.0

Data for Argile Textiles' 2011 financial statements are given in Tables 7-1 and 7-2 in the chapter. a. Compute the 2011 values of the following ratios: b. Briefly comment on Argile's 2011 financial...

At year-end 2012, total assets for Shome, Inc., amounted to $1.2 million and accounts payable were $375,000. Sales, which totaled $2.5 million in 2012, are expected to increase by 25 percent in 2013....

Stock A and Stock B have the following historical returns: Year.............. Stock A's Returns, Ra............... Stock B's Returns, rB...

A professor wishes to develop a numerical method for giving grades. He intends to base the grade on homework, two midterms, a project, and a final examination. He wishes the final exam to have the...

Stock investors often look to beat the performance of the S&P 500 Index, which generally serves as a yardstick for the market as a whole. The following table shows a comparison of the five-year...

American Express estimates current Halloween spending to be about $53 per person. Much of the spending was expected to come from young adults. A file titled Halloween contains sample data on...