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Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 11,150 Cost of goods sold
Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 11,150 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income 7,650 465 $ 3,035 88 $ 2,947 Taxes 619 Net income $ 2,328 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 230 Accounts payable Long-term debt $ 200 $ 1,480 $ 1,475 Accounts received 990 890 1,010 1,330 2,980 Inventory 1,750 1,645 Common stock 3,240 Total $ 2,940 3,410 $ 6,350 $ 2,765 Retained earnings 620 870 Net fixed assets 3,890 Total assets $ 6,655 Total liabilities & equity $ 6,350 $ 6,655 What is the fixed asset turnover for 2021? What is the fixed asset turnover for 2021? Multiple Choice 2.87 times 35 times 2.24 times 1.68 times 4.03 times
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