Business, 15.10.2020 08:01 goldy1509

Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $9,810
Cost of goods sold 7,960
Depreciation 485
Earnings before interest and taxes $1,365
Interest paid 112
Taxable income $1,253
Taxes 439
Net income $814

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)

2016 2017 2016 2017
Cash $270 $300 Accounts payable $1,530 $1,485
Accounts rec. 1,080 980 Long-term debt 1,140 1,340
Inventory 1,930 1,755 Common stock 3,420 3,370
Total $3,280 $3,035 Retained earnings 680 930
Net fixed assets 3,490 4,090
Total assets $6,770 $7,125 Total liab. $7200 $7585

Required:
What is the quick ratio for 2017?

Answers: 1

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Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $9,810
Cost of goods sold 7,...

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