Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data
Question:
For the year, net sales were $8,258 and cost of goods sold was $5,328 (in millions).
Instructions
(a) Compute the four liquidity ratios at the end of the year.
(b) Using the data in the chapter, compare Nordstroms liquidity with (1) that of Macys Inc., and (2) the industry averages for departmentstores.
Transcribed Image Text:
NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-Year Cash and cash equivalents Accounts receivable (net) Inventory Prepaid expenses Other current assets Beginning-of-Year $72 1,942 900 795 2,035 898 93 238 $4,054 $%2,014 210 $3,217 $1,601 Total current assets Total current liabilities
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a Current ratio 201 4054 2014 Acidtest ratio 141 2830 2014 Accounts receivable turn...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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