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Question - Nordstrom Inc. operates department stores in numerous states. Selected financial statement data for the year ending January 29, 2012, are as follows.
NORDSTROM, INC. Balance Sheet (partial)
(in millions)
End-of-Year
Beginning-of-Year
Cash and cash equivalents
$ 508
$ 381
Receivables (net)
653
708
Merchandise inventory
1,030
944
Prepaid expenses
76
69
Other current assets
645
576
Total current assets
$2,912
$2,678
Total current liabilities
$1,893
$1,473
For the year, net sales were $8,140, and cost of goods sold was $4,584 (in millions).
Compute the four liquidity ratios at the end of the year.
Using the data in the chapter, compare Nordstrom's liquidity with (1) that of J.C. Penney Company, and (2) the industry averages for department stores.
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