14 RIENDS Blackboard a Remaining Time: 57 minutes, 05 seconds. Question Completion Status: QUESTION 11 Use the following information to answer this question. Windswept, Inc. Year 2 Income Statement ($ in millions) Net sales $ 10,350 GOOD TIME Net income 21101 :2 Less: Cost of goods sold Less: Depreciation 7,800 405 Earnings before interest and taxes $ 2,145 Less: Interest paid I Taxable Income 94 $ 2,051 Less: Taxes 718 $1,333 Year 1 Cash $ 250 Windswept, Inc. Year 1 and Year 2 Balance Sheets ($ in millions) Accounts payable Year 2 $ 280 $1,670 Year 1 Year 2 $ 1,707 Accounts rec. 1,050 950 Long-term debt 1,040 1,323 Inventory 1,910 1,700 Total $ 3,210 $2,930 Common stock Retained earnings $3,300 $ 3,000 620 870 Net fixed assets 3,420 3,970 Total assets $ 6,630 $ 6,900 Total liab. & equity $ 6,630 $6,900 What is the financial leverage ratio for Year 2? (using the year-end value, not an average) 2.30 O 1.78 O 1.32 2.67 O 3.45 Click Save and Submit to save and submit. Click Save All Answers to save all answers.