Use the following information to answer this question. Windswept, Incorporated 2022 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 receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 2022? 2021 $ 140 820 $8,750 7,310 420 $ 1,020 86 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2022 $934 327 $607 $ 170 720 1,560 1,540 $ 2,500 $2,450 3,230 3,700 $5,730 $ 6,150 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,010 1,010 3,160 550 2022 $ 1,160 1,210 2,980 800 $5,730 $ 6,150

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
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Multiple Choice
O
O
O
O
O
2.11 times
1.34 times
.77 times
1.97 times
74 times
Transcribed Image Text:Multiple Choice O O O O O 2.11 times 1.34 times .77 times 1.97 times 74 times
Use the following information to answer this question.
Windswept, Incorporated
2022 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 receivable
Inventory
Total
Net fixed assets
Total assets
What is the quick ratio for 2022?
$ 8,750
7,310
420
$ 1,020
86
$ 934
327
$ 607
Windswept, Incorporated
2021 and 2022 Balance Sheets
(in millions)
2021
2022
$ 140
$ 170
820
1,540
720
1,560
$2,500 $2,450
3,230
3,700
$ 5,730
$ 6,150
Accounts payable
Lon term debt
Common stock
Retained earnings
Total liabilities & equity
2021
$ 1,010
1,010
3,160
550
2022
$ 1,160
1,210
2,980
800
$ 5,730 $ 6,150
Transcribed Image Text:Use the following information to answer this question. Windswept, Incorporated 2022 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 receivable Inventory Total Net fixed assets Total assets What is the quick ratio for 2022? $ 8,750 7,310 420 $ 1,020 86 $ 934 327 $ 607 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 $ 140 $ 170 820 1,540 720 1,560 $2,500 $2,450 3,230 3,700 $ 5,730 $ 6,150 Accounts payable Lon term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,010 1,010 3,160 550 2022 $ 1,160 1,210 2,980 800 $ 5,730 $ 6,150
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