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Use the following information to answer this question. Windswept, Inc 2017 Income Statement ($ in millions) Net sales $ 9,320 Cost of goods sold 7,610
Use the following information to answer this question. Windswept, Inc 2017 Income Statement ($ in millions) Net sales $ 9,320 Cost of goods sold 7,610 Depreciation 450 Earnings before interest and taxes $ 1.260 Interest paid 98 Taxable income $ 1,162 Taxes 407 Net Income $ 755 Windswept, Inc 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 200 $ 230 Accounts payable $ 1,250 $ 1,310 Accounts rec. 940 840 Long-term debt 1,070 1,270 Inventory 1,720 1,650 Common stock 3,280 3,160 Total $ 2,860 $ 2,720 Retained earnings 610 860 Net fixed assets 3,350 3,880 Total assets $ 6,210 $ 6,600 Total liab. & equity $ 6,210 $ 6,600 What is the quick ratio for 2017? 1.90 .82 1.26 0.79 2.08
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