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Nordstrom, Inc. operates department stores in numerous states. Selected financial statement data (in millions of dollars) for the year ended January 31, 2009, follow
End of Year
Beginning of Year
Cash and cash equivalents
$72
$358
Receivables (net)
1,942
1,788
Merchandise inventory
900
956
Other current assets
303
259
Total current assets
$3,217
$3,361
Total current liabilities
$1,601
$1,635
Instructions
(a) Compute working capital and the current ratio at the beginning of the year and at the end of the current year.
(b) Did Nordstrom"s liquidity improve or worsen during the year?
(c) Using the data in the chapter, compare Nordstrom"s liquidity with Best Buy"s.
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