Business, 17.12.2019 21:31, Dezidontcare3237
Kendra massey is trying to decide how to invest a recent windfall inheritance. because she considers herself a fashionista, her first thought was to look at two of her favorite stores, nordstrom and macy's. kendra visited each company's website and calculated the following ratios based on the financial statements she found there. she also found some industry averages to use as a comparison.
macy's
nordstrom
industry average
2015
2014
2015
2014
2015
2014
current ratio
1.34
1.69
1.04
1.87
1.90
1.70
acid-test ratio
0.29
0.53
0.27
1.12
0.50
0.60
accounts receivable turnover
55.2 times
65.2 times
11.3 times
5.9 times
40.8 times
56.4 times
average collection period
6.6 days
5.6 days
32.3 days
61.9 days
8.9 days
6.5 days
inventory turnover
3.02 times
3.07 times
4.99 times
5.15 times
3.20 times
4.10 times
average days to sell inventory
120.9 days
118.9 days
73.1 days
70.9 days
114.1 days
88.8 days
required
(a) which of the two companies has the stronger liquidity position?
(b) how do the companies' positions compare to the industry averages?
Answers: 2
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