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Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,550 Cost of goods sold 7,550 Depreciation 455 Earnings before interest and taxes $
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 10,550 | |
Cost of goods sold | 7,550 | ||
Depreciation | 455 | ||
Earnings before interest and taxes | $ | 2,545 | |
Interest paid | 94 | ||
Taxable income | $ | 2,451 | |
Taxes | 858 | ||
Net income | $ | 1,593 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 180 | $ | 210 | Accounts payable | $ | 1,360 | $ | 1,385 | ||||
Accounts rec. | 950 | 850 | Long-term debt | 1,030 | 1,310 | ||||||||
Inventory | 1,690 | 1,615 | Common stock | 3,200 | 2,960 | ||||||||
Total | $ | 2,820 | $ | 2,675 | Retained earnings | 600 | 850 | ||||||
Net fixed assets | 3,370 | 3,830 | |||||||||||
Total assets | $ | 6,190 | $ | 6,505 | Total liab. & equity | $ | 6,190 | $ | 6,505 | ||||
What is the fixed asset turnover for 2017?
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