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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 13,550 Less: Cost of goods sold

Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 13,550 Less: Cost of goods sold 8,050 Less: Depreciation 505 Earnings before interest and taxes $ 4,995 Less: Interest paid 104 Taxable Income $ 4,891 Less: Taxes 1,712 Net income $ 3,179 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $ 280 $ 310 Accounts payable $ 1,900 $ 1,865 Accounts rec. 1,150 1,050 Long-term debt 1,090 1,410 Inventory 2,060 1,765 Common stock $ 3,400 $ 3,060 Total $ 3,490 $ 3,125 Retained earnings 670 920 Net fixed assets 3,570 4,130 Total assets $ 7,060 $ 7,255 Total liab. & equity $ 7,060 $ 7,255 What is the fixed asset turnover? (use 2010 values) 3.28 4.34 2.25 0.30 1.87

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