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Category > Business & Finance Posted 16 May 2017 My Price 13.00

Computing Liquidity Ratios

Computing Liquidity Ratios - Cintas designs, manufactures, and implements corporate identity uniform programs that it rents or sells to customers throughout the United States and Canada. The company’s stock is traded on the NASDAQ and has provided investors with significant returns over the past few years. Selected information from the company’s balance sheet follows. For 2007, the company reported sales revenue of $3,706,900 and cost of goods sold of $1,515,815.

CINTAS
Balance Sheet
(amounts in thousands)

2007

2006

Cash

$35,360

$38,914

Marketable securities

120,053

202,539

Accounts receivable, net

408,870

389,905

Inventories

231,741

198,000

Prepaid expense

15,781

11,163

Accounts payable

64,622

71,635

Accrued taxes

70,763

95,363

Accrued liabilities

263,512

239,061

Long-term debt due within one year

4,141

26,653

Required:

Compute the current ratio, inventory turnover ratio, and accounts receivable turnover ratio (assuming that 60 percent of sales were on credit).

 

 

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Status NEW Posted 16 May 2017 05:05 PM My Price 13.00

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