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mounts in thousands) sh and cash equivalents ort-term investments counts receivable, less allowance of $36 and $22, respectively wentories, net spaid expenses counts payable. crued compensation and related liabilities. crued liabilities. at due within one year ired: pute the current ratio, quick ratio, inventory 2018 2017 $158.7 $189.3 24.2 824.6 756.0 300.3 298.2 34.4 32.1 235.1 197.1 160.7 169.6 440.1 449.8 382.9

mounts in thousands) sh and cash equivalents ort-term investments counts receivable, less allowance of $36 and $22, respectively wentories, net spaid expenses counts payable. crued compensation and related liabilities. crued liabilities. at due within one year ired: pute the current ratio, quick ratio, inventory 2018 2017 $158.7 $189.3 24.2 824.6 756.0 300.3 298.2 34.4 32.1 235.1 197.1 160.7 169.6 440.1 449.8 382.9

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Camounts in thousands). Cash and cash equivalents Short-term Investments Accounts receivable, less allowance of $36 and $22, CINTAS CORPORATION Statement of Financial Position As of May 31 respectively Inventories, net Prepaid expenses Accounts payable Accrued compensation and related liabilities Accrued liabilities Debt due within one year Current ratio Quick ratio Inventory turnover ratio Receivables tumover ratio 2018 $158.7 1.22 12.78 times 5.04 times 824.6 300.3 34.4 235.1 160.7 440.1 Required: Compute the current ratio, quick ratio, inventory turnover ratio, and receivables turnover ratio (assuming that 50 percent of sales were on credit) for 2018. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) 2017 $189.3 24.2 756.0 298.2 32.1 197.1 169.6 449.8 382.9
Transcribed Image Text:Camounts in thousands). Cash and cash equivalents Short-term Investments Accounts receivable, less allowance of $36 and $22, CINTAS CORPORATION Statement of Financial Position As of May 31 respectively Inventories, net Prepaid expenses Accounts payable Accrued compensation and related liabilities Accrued liabilities Debt due within one year Current ratio Quick ratio Inventory turnover ratio Receivables tumover ratio 2018 $158.7 1.22 12.78 times 5.04 times 824.6 300.3 34.4 235.1 160.7 440.1 Required: Compute the current ratio, quick ratio, inventory turnover ratio, and receivables turnover ratio (assuming that 50 percent of sales were on credit) for 2018. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) 2017 $189.3 24.2 756.0 298.2 32.1 197.1 169.6 449.8 382.9
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