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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,460 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,460
Less: Cost of goods sold 7,710
Less: Depreciation

460

Earnings before interest and taxes $ 1,290
Less: Interest paid

102

Taxable Income $ 1,188
Less: Taxes

416

Net income

$ 772

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 220 $ 250 Accounts payable $ 1,330 $ 1,360
Accounts rec. 980 880 Long-term debt 1,090 1,290
Inventory

1,780

1,680

Common stock $ 3,320 $ 3,220
Total $ 2,980 $ 2,810 Retained earnings

630

880

Net fixed assets

3,390

3,940

Total assets

$ 6,370

$ 6,750

Total liab. & equity

$ 6,370

$ 6,750

What is the quick ratio for 2010?

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