Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,600 Cost of goods sold 7,810 Depreciation 470 Earnings before interest and taxes $ 1,320 Interest paid 106 Taxable income $ 1,214 Taxes 425 Net income $ 789 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 240 $ 270 Accounts payable $ 1,410 $ 1,410 Accounts receivable 1,020 920 Long-term debt 1,110 1,310 Inventory 1,840 1,710 Common stock 3,360 3,280 Total $ 3,100 $ 2,900 Retained earnings 650 900 Net fixed assets 3,430 4,000 Total assets $ 6,530 $ 6,900 Total liabilities & equity $ 6,530 $ 6,900 What is the quick ratio for 2022?
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,600 Cost of goods sold 7,810 Depreciation 470 Earnings before interest and taxes $ 1,320 Interest paid 106 Taxable income $ 1,214 Taxes 425 Net income $ 789 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 240 $ 270 Accounts payable $ 1,410 $ 1,410 Accounts receivable 1,020 920 Long-term debt 1,110 1,310 Inventory 1,840 1,710 Common stock 3,360 3,280 Total $ 3,100 $ 2,900 Retained earnings 650 900 Net fixed assets 3,430 4,000 Total assets $ 6,530 $ 6,900 Total liabilities & equity $ 6,530 $ 6,900 What is the quick ratio for 2022?
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, Incorporated | |
| 2022 Income Statement | |
| (in millions) | |
| Net sales | $ 9,600 |
|---|---|
| Cost of goods sold | 7,810 |
| 470 | |
| Earnings before interest and taxes | $ 1,320 |
| Interest paid | 106 |
| Taxable income | $ 1,214 |
| Taxes | 425 |
| Net income | $ 789 |
| Windswept, Incorporated | |||||
| 2021 and 2022 |
|||||
| (in millions) | |||||
| 2021 | 2022 | 2021 | 2022 | ||
|---|---|---|---|---|---|
| Cash | $ 240 | $ 270 | Accounts payable | $ 1,410 | $ 1,410 |
| Accounts receivable | 1,020 | 920 | Long-term debt | 1,110 | 1,310 |
| Inventory | 1,840 | 1,710 | Common stock | 3,360 | 3,280 |
| Total | $ 3,100 | $ 2,900 | 650 | 900 | |
| Net fixed assets | 3,430 | 4,000 | |||
| Total assets | $ 6,530 | $ 6,900 | Total liabilities & equity | $ 6,530 | $ 6,900 |
What is the quick ratio for 2022?
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