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Use the following information to answer this question. Windswept, Incorporated 2 0 1 7 Income Statement ( $ in millions ) Net sales $ 1

Use the following information to answer this question.
Windswept, Incorporated
2017 Income Statement
($ in millions)
Net sales $ 10,020
Cost of goods sold 8,110
Depreciation 500
Earnings before interest and taxes $ 1,410
Interest paid 118
Taxable income $ 1,292
Taxes 452
Net income $ 840
Windswept, Incorporated
2016 and 2017 Balance Sheets
($ in millions)
2016201720162017
Cash $ 300 $ 330 Accounts payable $ 1,650 $ 1,560
Accounts receivable 1,1401,040 Long-term debt 1,1701,370
Inventory 2,0201,800 Common stock 3,4803,460
Total $ 3,460 $ 3,170 Retained earnings 710960
Net fixed assets 3,5504,180
Total assets $ 7,010 $ 7,350 Total liability & equity $ 7,010 $ 7,350
What is the quick ratio for 2017?
Multiple Choice
.87 times
1.82 times
2.03 times
1.15 times
.88 times

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