Suppose Nordstrom Inc. which operates department stores in numerous states has the following selected financial statement data for the year ending January 30 2014.NORDSTORM INC.Balance Sheet (partial)(in millions)End-of-YearBeginning-of-YearCash and cash equivalents $ 795 $ 72Accounts receivable (net) 2035 1942Inventory 898 900Prepaid expenses 88 93Other current assets 238 210Total current assets $4054 $3217Total current liabilities $2014 $1601For the year net sales were $8258 and cost of goods sold was $5328 (in millions).(a) Compute the four liquidity ratios at the end of the year. (Round answers to 1 decimal place e.g. 1.6 .)Current ratio :1Acid-test ratio :1Accounts receivable turnover timesInventory turnover times
