Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions of dollars) for a recent year follow. Cash and cash equivalents Receivables (net) Merchandise inventory Other current assets Total current assets Total current liabilities (a) Working capital $ Beginning of Year $ 358 Current ratio 1,788 956 259 $3,361 $1,635 End of Year Beginning of Year $72 :1 1,942 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. 15.25:1. Enter dollar amounts in millions.) 900 303 $3,217 $1,601 $ End of Year :1

Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions of dollars) for a recent year follow. Cash and cash equivalents Receivables (net) Merchandise inventory Other current assets Total current assets Total current liabilities (a) Working capital $ Beginning of Year $ 358 Current ratio 1,788 956 259 $3,361 $1,635 End of Year Beginning of Year $72 :1 1,942 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. 15.25:1. Enter dollar amounts in millions.) 900 303 $3,217 $1,601 $ End of Year :1

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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