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Use the following information to answer this question. Windswept, Inc. Year 2 Income Statement ($ in millions). $ 9,350 S 7,330 Less: Cost of goods

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Use the following information to answer this question. Windswept, Inc. Year 2 Income Statement ($ in millions). $ 9,350 S 7,330 Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable income Less: Taxes Net income 435 $1,585 86 $ 1,499 525 $ 974 Windswept. Inc Year 1 and Year 2 Balance Sheets($. in millions). Year 1 Year 2 Cash $ 140 $ 170 Accounts payable Accounts rec. 840 740 Long-term debt Inventory 1,570 1,555 Common stock Total $ 2,550 $ 2,465 Retained earnings Net fixed assets 3,290 3,710 Total assets $ 5,840 $ 6,175 Total liab. & equity Year 1 $1,060 990 $3,230 560 Year 2 $ 1,175 1,270 $ 2,920 810 $5,840 $6,175 What is the fixed asset turnover? (use Year 2 values, not an average) 3.79 2.52 0.40

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