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Accounting
| Use the following information to answer this question. |
| Windswept, Inc. 2010 Income Statement ($ in millions) | |
| Net sales | $ 9,530 |
| Less: Cost of goods sold | 7,760 |
| Less: Depreciation | 465 |
| Earnings before interest and taxes | $ 1,305 |
| Less: Interest paid | 104 |
| Taxable Income | $ 1,201 |
| Less: Taxes | 420 |
| Net income | $ 781 |
| Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
| 2009 | 2010 | 2009 | 2010 | ||
| Cash | $ 230 | $ 260 | Accounts payable | $ 1,370 | $ 1,385 |
| Accounts rec. | 1,000 | 900 | Long-term debt | 1,100 | 1,300 |
| Inventory | 1,810 | 1,695 | Common stock | $ 3,340 | $ 3,250 |
| Total | $ 3,040 | $ 2,855 | Retained earnings | 640 | 890 |
| Net fixed assets | 3,410 | 3,970 | |||
| Total assets | $ 6,450 | $ 6,825 | Total liab. & equity | $ 6,450 | $ 6,825 |
| What is the quick ratio for 2010? |
1.22
2.06
1.87
0.82
0.84
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