Reference no: EM132713752
Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions of dollars) for a recent year follow.
End of Year Beginning of Y
Cash and cash equivalents $ 60 $ 425
Receivables (net) 1,910 2,030
Merchandise inventory 924 938
Other current assets 460 270
Total current assets $3,354 $3,663
Total current liabilities $1,560 $1,650
Problem (a) Compute working capital and the current ratio at the beginning of the year and at the end of the year.