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Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 10,020 Cost of goods sold 8,110 Depreciation
Use the following information to answer this question. Windswept, Incorporated 2022 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 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 300 $ 330 Accounts payable $ 1,650 $ 1,560 Accounts receivable 1,140 1,040 Long-term debt 1,170 1,370 Inventory 2,020 1,800 Common stock 3,480 3,460 Total $ 3,460 $ 3,170 Retained earnings 710 960 Net fixed assets 3,550 4,180 Total assets $ 7,010 $ 7,350 Total liabilities & equity $ 7,010 $ 7,350 What is the quick ratio for 2022? Multiple Choice 1.15 times 2.03 times .88 times .87 times 1.82 times
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