Cintas Corporation is the largest uniform supplier in North America. Selected information from its annual...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Cintas Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2013 fiscal year, the company reported sales revenue of $5.5 billion and Cost of Goods Sold of $3.7 billion.
| Fiscal Year | 2013 | 2012 | ||||
| Balance Sheet (amounts in millions) | ||||||
| Cash | $ | 480 | $ | 400 | ||
| Accounts Receivable, net | 740 | 690 | ||||
| Inventories | 300 | 310 | ||||
| Prepaid Rent | 705 | 600 | ||||
| Accounts Payable | 180 | 160 | ||||
| Salaries and Wages Payable | 460 | 460 | ||||
| Income Tax Payable | 104 | 22 | ||||
| Notes Payable (short-term) | 22 | 290 | ||||
Assuming that all sales are on credit, compute the following ratios for 2013. (Round your answers to 2 decimal places.) (Current ratio, inventory turnover ratio, accounts receviable turnover ratio
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.