Question
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,650 Cost of goods sold 7,260
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,650 Cost of goods sold 7,260 Depreciation 415 Earnings before interest and taxes $ 975 Interest paid 84 Taxable income $ 891 Taxes 312 Net income $ 579 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 130 $ 160 Accounts payable $ 970 $ 1,135 Accounts rec. 800 700 Long-term debt 1,000 1,200 Inventory 1,510 1,545 Common stock 3,140 2,950 Total $ 2,440 $ 2,405 Retained earnings 540 790 Net fixed assets 3,210 3,670 Total assets $ 5,650 $ 6,075 Total liab. & equity $ 5,650 $ 6,075 What is the quick ratio for 2017?
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