Question
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales. Cost of goods sold Depreciation Earnings before
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales. Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income" Taxes Net income $ 9,500 7,700 385 $1,415 90 $1,325 464 $ 861 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 220 $ 250 Accounts payable $1,480 $1,587 Accounts receivable Inventory 1,010 910 Long-term debt 1,020 1,333 1,680 1,680 Common stock 3,260 2,980 Total $2,910 $ 2,840 Retained earnings 600 850 Net fixed assets 3,450 3,910 Total assets $ 6,360 $6,750 Total liabilities & equity $6,360 $6,750 What is the cash coverage ratio for 2022?
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