Use the information in the table below to calculate the following ratios for Windswept Woodworks for year 1 and year 2.

Windswept Woodworks, Incorporated
Input Data
(millions of dollars)
	Year 2	Year 1
Accounts payable	562		494
Accounts receivable	1,406		940
Accumulated depreciation	6,872		6,742
Cash & equivalents	350		238
Common stock	1,310		1,230
Cost of goods sold	1,530		n.a.
Depreciation expense	?		n.a.
Common stock dividends paid	?		n.a.
Interest expense	170		n.a.
Inventory	1,140		1,136
Addition to retained earnings	602		n.a.
Long-term debt	938		846
Notes payable	260		410
Gross plant & equipment	10,380		10,120
Retained earnings	3,188		2,586
Sales	3,048		n.a.
Other current liabilities	146		126
Tax rate	21%		n.a.
Market price per share year end	$ 21.80		$ 19.50
Number of shares outstanding	500	million	500	million

(For all requirements, round your answers to 2 decimal places.)

Required:

a. Interest coverage ratio (Assume that year 1 EBIT was 1,307 and year 1 interest expense was 140.)

Year 2 Interest coverage ratio:

Year 1 Interest coverage ratio:

b. Average collection period (Assume that the accounts receivable balance was 980 on December 31 of the previous year and that year 1 sales were 2,748.) (Use 365 days in a year.)

Year 2 ACP:

Year 1 ACP:

c. Current ratio

Year 2 Current ratio:

Year 1 Current ratio:

d. Quick ratio

Year 2 Quick ratio:

Year 1 Quick ratio: