Selected financial statement data for Jamestown Resorts for the year ending January 31 2008 are as

QUESTION

Selected financial statement data for Jamestown Resorts for the year ending January 31, 2008, are as follows:JAMESTOWN RESORTS, INC.Balance Sheet (partial)(in millions)End of YearBeginning of YearCash and cash equivalents$331$25Receivables (less allowance of $23 and $17)699722Merchandise inventory888946Prepaid expenses3729Other current assets10291Total current assets$2,057$1,813Total current liabilities$950$951For the year, net sales were $5,634 million, and cost of goods sold was $3,766 million. Instructions Compute the four liquidity ratios at the end of the current year.
Four liquidity ratios are: Current Ratio = Current Assets / Current Liabilities = 2057/950 = 2.165 2. Quick Ratio = (Current Assets-Inventories)/ Current Liabilities = (2057-888)/950 = 1.230 3. Cash Ratio = Cash $

h Equivalents/ Total Liabilities = 331/ 950 = 0.3484 4. Working Capital = Current Assets Current Liabilities = 2057 950 = $1,107

ANSWER:

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