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Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,880 Less: Cost of goods sold 8,010 Less: Depreciation 490 Earnings before interest and

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,880
Less: Cost of goods sold 8,010
Less: Depreciation

490

Earnings before interest and taxes $ 1,380
Less: Interest paid

114

Taxable Income $ 1,266
Less: Taxes

443

Net income

$ 823

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 280 $ 310 Accounts payable $ 1,570 $ 1,510
Accounts rec. 1,100 1,000 Long-term debt 1,150 1,350
Inventory

1,960

1,770

Common stock $ 3,440 $ 3,400
Total $ 3,340 $ 3,080 Retained earnings

690

940

Net fixed assets

3,510

4,120

Total assets

$ 6,850

$ 7,200

Total liab. & equity

$ 6,850

$ 7,200

What is the quick ratio for 2010?

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