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Use the following information to answer this question. Windswept, Inc. 2017...

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Finance

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $ 9,320
Cost of goods sold 7,610
Depreciation 450
Earnings before interest and taxes $ 1,260
Interest paid 98
Taxable income $ 1,162
Taxes 407
Net income $ 755

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $ 200 $ 230 Accounts payable $ 1,250 $ 1,310
Accounts rec. 940 840 Long-term debt 1,070 1,270
Inventory 1,720 1,650 Common stock 3,280 3,160
Total $ 2,860 $ 2,720 Retained earnings 610 860
Net fixed assets 3,350 3,880
Total assets $ 6,210 $ 6,600 Total liab. & equity $ 6,210 $ 6,600

What is the quick ratio for 2017?

1.26 times

1.90 times

2.08 times

.79 times

.82 times

Answer & Explanation Solved by verified expert
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