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Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows....
Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows. NORDSTROM, INC. Balance Sheet (partial) (in millions) End-of-YearBeginning-of-Year Other current assets 631621 Total current assets $2,899$2,662 Total current liabilities $1,884$1,464For the year, net sales were $8,157, and cost of goods sold was $4,591 (in millions). Compute the four liquidity ratios at the end of the year. (Round ratios to 2 decimal place, e.g. 10.57:1 and turnovers to 1 decimal place, e.g. 10.5.)Current ratio :1 Acid-test ratio :1 Receivables turnover times Inventory turnover times Using the data in the chapter, compare Nordstrom's liquidity with (1) that of J.C. Penney Company, and (2) the industry averages for department stores. (Round ratios to 2 decimal place, e.g. 10.57:1 and turnovers to 1 decimal place, e.g. 10.5.)Ratio Nordstrom J. C. Penney IndustryCurrent :1 2.02:1 1.06:1 Acid-test :1 0.87:1 0.29:1 Receivables turnover :1 57.0:1 28.2:1 Inventory turnover :1 3.5:1 7.0:1 Nordstrom is abovebelow J.C. Penney for the current and acid-test ratios and the receivables turnover. Nordstrom is worsebetter than J.C. Penney for inventory turnover. Nordstrom is betterworse than the industry average for the current and acid test ratio, but belowabove the industry average for receivables turnover and the inventory turnover ratios.
Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows.NORDSTROM, INC.Balance Sheet (partial)...