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 $ 8,900 7,400 355 $ 1,145 91 $ 1,054 369 $ 685 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 2022 2021 $ 160 960 1,560 $ 190 Accounts payable $ 1,240 2022 $ 1,447 860 1,590 1,040 1,273 3,250 480 2,920 730 $ 2,680 $ 2,640 3,330 3,730 $ 6,010 $ 6,370 What is the cash coverage ratio for 2022? Long-term debt Common stock Retained earnings Total liabilities & equity $ 6,010 $ 6,370
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 $ 8,900 7,400 355 $ 1,145 91 $ 1,054 369 $ 685 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 2022 2021 $ 160 960 1,560 $ 190 Accounts payable $ 1,240 2022 $ 1,447 860 1,590 1,040 1,273 3,250 480 2,920 730 $ 2,680 $ 2,640 3,330 3,730 $ 6,010 $ 6,370 What is the cash coverage ratio for 2022? Long-term debt Common stock Retained earnings Total liabilities & equity $ 6,010 $ 6,370
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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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
$ 8,900
7,400
355
$ 1,145
91
$ 1,054
369
$ 685
Windswept, Incorporated
2021 and 2022 Balance Sheets
(in millions)
Cash
Accounts receivable
Inventory
Total
Net fixed assets
Total assets
2021
2022
2021
$ 160
960
1,560
$ 190
Accounts payable
$ 1,240
2022
$ 1,447
860
1,590
1,040
1,273
3,250
480
2,920
730
$ 2,680 $ 2,640
3,330 3,730
$ 6,010 $ 6,370
What is the cash coverage ratio for 2022?
Long-term debt
Common stock
Retained earnings
Total liabilities & equity
$ 6,010 $ 6,370
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