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E13-8 Computing and Interpreting Liquidity Ratlos [LO 13-4, LO 13-5) Trim Corporation is the largest...

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E13-8 Computing and Interpreting Liquidity Ratlos [LO 13-4, LO 13-5) Trim Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company reported sales revenue of $4.9 billion and Cost of Goods Sold of $3.1 billion Fiscal Year 2016 2015 Balance Sheet (amounts in millions) Cash and Cash Equivalents $420 $370 Accounts Receivable, net 620 570 Inventories 270 280 Prepaid Rent and Other Current Assets 540 Accounts Payable 130 Salaries and Wages Payable 400 Notes Payable (short-term) 16 Other Current Liabilities 260 615 400 Required: Assuming that all sales are on credit, compute the following ratios for 2016. (Round your answers to 2 decimal places.) Current Ratio Inventory Tumover Rato Accounts Receivable Turnover Ratio

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