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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,390 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,390
Less: Cost of goods sold 7,660
Less: Depreciation

455

Earnings before interest and taxes $ 1,275
Less: Interest paid

100

Taxable Income $ 1,175
Less: Taxes

411

Net income

$ 764

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 210 $ 240 Accounts payable $ 1,290 $ 1,335
Accounts rec. 960 860 Long-term debt 1,080 1,280
Inventory

1,750

1,665

Common stock $ 3,300 $ 3,190
Total $ 2,920 $ 2,765 Retained earnings

620

870

Net fixed assets

3,370

3,910

Total assets

$ 6,290

$ 6,675

Total liab. & equity

$ 6,290

$ 6,675

What is the quick ratio for 2010?

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