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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,250 Cost of goods sold 7,560
Use the following information to answer this question.
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 9,250 | |
Cost of goods sold | 7,560 | ||
Depreciation | 445 | ||
Earnings before interest and taxes | $ | 1,245 | |
Interest paid | 96 | ||
Taxable income | $ | 1,149 | |
Taxes | 402 | ||
Net income | $ | 747 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 190 | $ | 220 | Accounts payable | $ | 1,210 | $ | 1,285 | ||||
Accounts rec. | 920 | 820 | Long-term debt | 1,060 | 1,260 | ||||||||
Inventory | 1,690 | 1,635 | Common stock | 3,260 | 3,130 | ||||||||
Total | $ | 2,800 | $ | 2,675 | Retained earnings | 600 | 850 | ||||||
Net fixed assets | 3,330 | 3,850 | |||||||||||
Total assets | $ | 6,130 | $ | 6,525 | Total liab. & equity | $ | 6,130 | $ | 6,525 | ||||
What is the quick ratio for 2017?
.79 times
.81 times
1.91 times
1.27 times
2.08 times
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