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Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 8,750 Cost of goods sold 7,310
Use the following information to answer this question:
Windswept, Incorporated | |
2021 Income Statement | |
($ in millions) | |
Net sales | $ 8,750 |
---|---|
Cost of goods sold | 7,310 |
Depreciation | 420 |
Earnings before interest and taxes | $ 1,020 |
Interest paid | 86 |
Taxable income | $ 934 |
Taxes | 196 |
Net income | $ 738 |
Windswept, Incorporated | |||||
2020 and 2021 Balance Sheets | |||||
($ in millions) | |||||
2020 | 2021 | 2020 | 2021 | ||
---|---|---|---|---|---|
Cash | $ 140 | $ 170 | Accounts payable | $ 1,010 | $ 1,160 |
Accounts received | 820 | 720 | Long-term debt | 1,010 | 1,210 |
Inventory | 1,540 | 1,560 | Common stock | 3,160 | 2,980 |
Total | $ 2,500 | $ 2,450 | Retained earnings | 550 | 800 |
Net fixed assets | 3,230 | 3,700 | |||
Total assets | $ 5,730 | $ 6,150 | Total liabilities & equity | $ 5,730 | $ 6,150 |
What is the quick ratio for 2021?
Multiple Choice
.77 times
2.11 times
1.97 times
1.34 times
.74 times
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