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.)
|
End of Year |
Beginning of Year |
|||||||
|
Working capital |
$ |
|
$ |
|
||||
|
Current ratio |
|
:1 |
|
:1 |
||||
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