Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2008 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,240 Less: Depreciation 400 Earnings before interest and taxes 810 Less: Interest paid 70 Taxable Income $ 740 Less: Taxes 259 Net income $ 481 Windswept, Inc. 2007 and 2008 Balance Sheets ($ in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2007 2008 $ 120 $ 140 930 780 1,480 1,520 $2,530 $2,440 3,150 3,600 $5,680 $6,040 2007 2008 $1,110 $1,120 840 1,210 3,200 3,000 530 710 $5,680 $6,040 a. What is the current ratio for 2008? b. What is the debt-equity ratio for 2008? c. What is the times interest earned ratio for 2008