Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $8,750 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid 7,310 420 $1,020 86 Taxable income $ 934 Таxes 327 Net income $ 607 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 $ 140 $ 170 Accounts payable 720 Long-term debt Cash $1,010 $1,160 Accounts rec. 820 1,010 1,210 1,560 Common stock $2,500 $2,450 Retained earnings 3,700 Inventory 1,540 3,160 2,980 Total 550 800 Net fixed assets 3,230 Total assets $5,730 $6,150 Total liab. & equity $5,730 $6,150 What is the quick ratio for 2017?

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $8,750 Cost of goods sold Depreciation Earnings before interest and taxes Interest paid 7,310 420 $1,020 86 Taxable income $ 934 Таxes 327 Net income $ 607 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 $ 140 $ 170 Accounts payable 720 Long-term debt Cash $1,010 $1,160 Accounts rec. 820 1,010 1,210 1,560 Common stock $2,500 $2,450 Retained earnings 3,700 Inventory 1,540 3,160 2,980 Total 550 800 Net fixed assets 3,230 Total assets $5,730 $6,150 Total liab. & equity $5,730 $6,150 What is the quick ratio for 2017?

Name: What is the quick ratio for 2017?A. 2.11 timesB. .74 timesC. 1.97 time
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Description: What is the quick ratio for 2017?A. 2.11 timesB. .74 timesC. 1.97 timesD. 1.34 timesE. .77 times Use the following information to answer this question.Windswept, Inc.2017 Income Statement($ in millions)Net sales$8,750Cost of goods soldDepreciation7,3

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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