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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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