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Compute working capital and the current ratio at beginning

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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.

Reference no: EM132713752

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