he following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,390 Cost of goods sold 7,660 Depreciation 455 Earnings before interest and taxes $ 1,275 Interest paid 100 Taxable income $ 1,175 Taxes 411 Net income $ 764
he following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,390 Cost of goods sold 7,660 Depreciation 455 Earnings before interest and taxes $ 1,275 Interest paid 100 Taxable income $ 1,175 Taxes 411 Net income $ 764
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Use the following information to answer this question.
| Windswept, Inc. 2017 Income Statement ($ in millions) |
|||
| Net sales | $ | 9,390 | |
| Cost of goods sold | 7,660 | ||
| 455 | |||
| Earnings before interest and taxes | $ | 1,275 | |
| Interest paid | 100 | ||
| Taxable income | $ | 1,175 | |
| Taxes | 411 | ||
| Net income | $ | 764 | |
| Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) |
|||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 210 | $ | 240 | Accounts payable | $ | 1,290 | $ | 1,335 | ||||
| Accounts rec. | 960 | 860 | Long-term debt | 1,080 | 1,280 | ||||||||
| Inventory | 1,750 | 1,665 | Common stock | 3,300 | 3,190 | ||||||||
| Total | $ | 2,920 | $ | 2,765 | 620 | 870 | |||||||
| Net fixed assets | 3,370 | 3,910 | |||||||||||
| Total assets | $ | 6,290 | $ | 6,675 | Total liab. & equity | $ | 6,290 | $ | 6,675 | ||||
What is the quick ratio for 2017?
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