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Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 795 2,035 898 326 $ 4,054 2,014 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions The correct answers for the current year are given below. You are to "show the work" to get those correct answers. Specifically, I am looking to see "what number divided by what other number" results in the right answer. Liquidity indicators Current ratio Accounts receivable turnover Your Answers: In the third column I need to see the actual dollar amounts, or the numbers, you would use (NOT a "formula"). No need to see the answers to the calculations, just "the numbers used. Average collection period Inventory turnover Days in inventory Beginning of Year $72 1,942 900 303 $ 3,217 1,601 Correct answer 2.01:1 4.2 times 86.9 days 5.9 times 61.9 days What # What # = Correct Answer

Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 795 2,035 898 326 $ 4,054 2,014 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions The correct answers for the current year are given below. You are to "show the work" to get those correct answers. Specifically, I am looking to see "what number divided by what other number" results in the right answer. Liquidity indicators Current ratio Accounts receivable turnover Your Answers: In the third column I need to see the actual dollar amounts, or the numbers, you would use (NOT a "formula"). No need to see the answers to the calculations, just "the numbers used. Average collection period Inventory turnover Days in inventory Beginning of Year $72 1,942 900 303 $ 3,217 1,601 Correct answer 2.01:1 4.2 times 86.9 days 5.9 times 61.9 days What # What # = Correct Answer

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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Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 795 2,035 898 326 $ 4,054 2,014 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions The correct answers for the current year are given below. You are to "show the work" to get those correct answers. Specifically, I am looking to see "what number divided by what other number" results in the right answer. Liquidity indicators Current ratio Accounts receivable turnover Your Answers: In the third column I need to see the actual dollar amounts, or the numbers, you would use (NOT a "formula"). No need to see the answers to the calculations, just "the numbers used. Average collection period Inventory turnover Days in inventory Beginning of Year $72 1,942 900 303 $ 3,217 1,601 Correct answer 2.01:1 4.2 times 86.9 days 5.9 times 61.9 days What # What # = Correct Answer
Transcribed Image Text:Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial statement data (in millions) for 2022 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 795 2,035 898 326 $ 4,054 2,014 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions The correct answers for the current year are given below. You are to "show the work" to get those correct answers. Specifically, I am looking to see "what number divided by what other number" results in the right answer. Liquidity indicators Current ratio Accounts receivable turnover Your Answers: In the third column I need to see the actual dollar amounts, or the numbers, you would use (NOT a "formula"). No need to see the answers to the calculations, just "the numbers used. Average collection period Inventory turnover Days in inventory Beginning of Year $72 1,942 900 303 $ 3,217 1,601 Correct answer 2.01:1 4.2 times 86.9 days 5.9 times 61.9 days What # What # = Correct Answer
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