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Use the following information to answer this question. 78 Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 8,750 Less: Cost of goods

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Use the following information to answer this question. 78 Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 8,750 Less: Cost of goods sold 7,230 Less: Depreciation 425 Earnings before interest and taxes $ 1,0951 Less: Interest paid 82 Taxable income $ 1,013 Less: Taxes 355 Net income $ 6581 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $ 1201 $ 120 Accounts payable $ 980 $ 1,055 Accounts rec. 8001 700 Long-term debt 9701 1,250 Inventory 1,510 1,525 Common stock $ 3.190 $ 2,900 Total $ 2,430 $ 2,345 Retained earnings 540 790 Net fixed assets 3,250 3,650 Total assets $ 5,680 $ 5,995 Total liab. & equity $ 5,680 $ 5,995 What is the fixed asset turnover? (use 2010 values)

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