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Accounting
| Use the following information to answer this question. |
| Windswept, Inc. 2010 Income Statement ($ in millions) | |
| Net sales | $ 8,800 |
| Less: Cost of goods sold | 7,350 |
| Less: Depreciation | 350 |
| Earnings before interest and taxes | $ 1,100 |
| Less: Interest paid | 89 |
| Taxable Income | $ 1,011 |
| Less: Taxes | 354 |
| Net income | $ 657 |
| Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
| 2009 | 2010 | 2009 | 2010 | ||
| Cash | $ 150 | $ 180 | Accounts payable | $ 1,210 | $ 1,402 |
| Accounts rec. | 940 | 840 | Long-term debt | 1,030 | 1,263 |
| Inventory | 1,540 | 1,575 | Common stock | $ 3,230 | $ 2,910 |
| Total | $ 2,630 | $ 2,595 | Retained earnings | 470 | 720 |
| Net fixed assets | 3,310 | 3,700 | |||
| Total assets | $ 5,940 | $ 6,295 | Total liab. & equity | $ 5,940 | $ 6,295 |
| What is the cash coverage ratio for 2010? |
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