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Consider the information in the table: Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,160 Cost of goods sold 8,210 Depreciation 510
Consider the information in the table:
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 10,160 | |
Cost of goods sold | 8,210 | ||
Depreciation | 510 | ||
Earnings before interest and taxes | $ | 1,440 | |
Interest paid | 122 | ||
Taxable income | $ | 1,318 | |
Taxes | 461 | ||
Net income | $ | 857 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 320 | $ | 350 | Accounts payable | $ | 1,730 | $ | 1,610 | ||||
Accounts rec. | 1,180 | 1,080 | Long-term debt | 1,190 | 1,390 | ||||||||
Inventory | 2,080 | 1,830 | Common stock | 3,520 | 3,520 | ||||||||
Total | $ | 3,580 | $ | 3,260 | Retained earnings | 730 | 980 | ||||||
Net fixed assets | 3,590 | 4,240 | |||||||||||
Total assets | $ | 7,170 | $ | 7,500 | Total liab. & equity | $ | 7,170 | $ | 7,500 | ||||
What is the quick ratio for 2017?
2.02 times
1.14 times
1.81 times
.89 times
.88 times
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