Use the following information to answer this question.Windswept, Inc.2017 Income Statement($ in millions)Net salesCost of goods soldDepreciationEarnings before interest and taxesInterest paidTaxable incomeTaxesNet income:CashAccounts rec.InventoryTotalNet fixed assetsTotal assetsWindswept, Inc.2016 and 2017 Balance Sheets($ in millions)20162017$ 280 $ 310 Accounts payableLong-term debtCommon stock$3,210 $3,110 Retained earnings3,570 4,090$6,780 $7,200 Total liab. & equity1,130 1,0301,800 1,770$10,1008,000415$1,685102$ 1,583554$ 1,029What is the cash coverage ratio for 2017?20162017$1,660 $1,8571,080 1,3933,3803,040660910$6,780 $7,200

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Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts rec. Inventory Total Net fixed assets Total assets $10,100 8,000 415 $ 1,685 102 What is the cash coverage ratio for 2017? $ 1,583 554 $ 1,029 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 280 $ 310 Accounts payable 1,130 1,030 Long-term debt 1,800 1,770 Common stock $3,210 $3,110 Retained earnings 3,570 4,090 $6,780 $7,200 Total liab. & equity 2016 2017 $1,660 $1,857 1,080 1,393 3,380 3,040 660 910 $6,780 $7,200

Use the following information to answer this question Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts rec. Inventory Total Net fixed assets Total assets $10,100 8,000 415 $ 1,685 102 What is the cash coverage ratio for 2017? $ 1,583 554 $ 1,029 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 280 $ 310 Accounts payable 1,130 1,030 Long-term debt 1,800 1,770 Common stock $3,210 $3,110 Retained earnings 3,570 4,090 $6,780 $7,200 Total liab. & equity 2016 2017 $1,660 $1,857 1,080 1,393 3,380 3,040 660 910 $6,780 $7,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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