Cintas Corporation is the largest uniform supplier in North America. Selected information from its annual...
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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
Answer & Explanation
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