Earnings before interest and taxes inventory taxable
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
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
What is the quick ratio for 2010?
1.22
2.06
1.87
0.82
0.84
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use the following information to answer this questionnbspwindswept inc 2010 income statement in millionsnbspnet
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