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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,500 Less: Cost of goods sold
Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,500 Less: Cost of goods sold 7,700 Less: Depreciation 385 Earnings before interest and taxes $ 1,415 Less: Interest paid 901 Taxable income $ 1,325 Less: Taxes 4641 Net income $ 8611 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $ 220 $ 250 Accounts payable $ 1,480 $ 1,587 Accounts rec. 1,0101 910 Long-term debt 1,020 1,333 Inventory 1,6801 1,680 Common stock $ 3,260 $ 2,980 Total $ 2,910 $ 2,840 Retained earnings 600 850 Net fixed assets 3,450 3,910 Total assets $ 6,360 $ 6,750 Total liab. & equity$ 6,360 $ 6,750 What is the cash coverage ratio for 2010
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