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What is the quick ratio for 2022?

What is the quick ratio for 2022?

FINANCIAL ACCOUNTING
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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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 $ 8,850 7,360 425 $ 1,065 88 $ 977 342 $ 635 Windswept, Incorporated 2021 and 2022 Balance Sheets: (in millions) 2022 $ 180 $ 150 840 1,570 740 1,575 $ 2,560 $ 2,495 3,250 3,730 $ 5,810 $ 6,225 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,050 1,020 3,180 560 2022 $ 1,185 1,220 3,010 810 $ 5,810 $ 6,225
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? 2021 $ 8,850 7,360 425 $ 1,065 88 $ 977 342 $ 635 Windswept, Incorporated 2021 and 2022 Balance Sheets: (in millions) 2022 $ 180 $ 150 840 1,570 740 1,575 $ 2,560 $ 2,495 3,250 3,730 $ 5,810 $ 6,225 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,050 1,020 3,180 560 2022 $ 1,185 1,220 3,010 810 $ 5,810 $ 6,225
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