Nordstrom, Inc. Operates Department Stores In Numerous States. Suppose Selected Financial Statement Data (In Millions Of Dollars) For A Recent Year Follows. End Of Year Beginning Of Year Cash And Cash Equivalents $ 82 $ 408 Receivables (Net)

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Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions of dollars) for a recent year follows.

End of Year Beginning of Year
Cash and cash equivalents $     82 $    408
Receivables (net) 2,214 2,038
Merchandise inventory 1,026 1,090
Other current assets 345 295
Total current assets $3,667 $3,831
Total current liabilities $1,606 $1,646

 

Compute working capital and the current ratio at the beginning of the year and at the end of the year. (Round current ratio to 2 decimal places, e.g. 15.25.)

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End of Year Beginning of Year
Working capital $ http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] $ http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed]
Current ratio http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] :1 http://edugen.wiley.com/edugen/art2/common/pixel.gif[removed] :1

 

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