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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

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