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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,850 Cost of goods sold 7,600

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)

Net sales

$

10,850

Cost of goods sold

7,600

Depreciation

460

Earnings before interest and taxes

$

2,790

Interest paid

96

Taxable income

$

2,694

Taxes

943

Net income

$

1,751

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)

2016

2017

2016

2017

Cash

$

190

$

220

Accounts payable

$

1,440

$

1,430

Accounts rec.

970

870

Long-term debt

1,000

1,320

Inventory

1,720

1,630

Common stock

3,220

2,970

Total

$

2,880

$

2,720

Retained earnings

610

860

Net fixed assets

3,390

3,860

Total assets

$

6,270

$

6,580

Total liab. & equity

$

6,270

$

6,580

What is the fixed asset turnover for 2017?

2.24 times

.36 times

1.65 times

3.99 times

2.81 times

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