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 $ 9,740 7,910 480 $ 1,350 110 $ 1,240 434 $806 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions)

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
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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?
Multiple Choice
O
O
.86 times
.84 times
1.85 times
2.05 times
1.19 times
$ 9,740
7,910
480
2021
$ 260
1,060
1,900
$ 1,350
110
$ 1,240
434
$ 806
Windswept, Incorporated
2021 and 2022 Balance Sheets
(in millions)
2022
$ 290
960
1,740
$3,220 $ 2,990
3,470
4,060
$6,690 $ 7,050
Accounts payable
Long-term debt
Common stock
Retained earnings
Total liabilities & equity
2021
$ 1,490
2022
$1,460
1,330
1,130
3,400 3,340
670
920
$ 6,690 $7,050
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? Multiple Choice O O .86 times .84 times 1.85 times 2.05 times 1.19 times $ 9,740 7,910 480 2021 $ 260 1,060 1,900 $ 1,350 110 $ 1,240 434 $ 806 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2022 $ 290 960 1,740 $3,220 $ 2,990 3,470 4,060 $6,690 $ 7,050 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,490 2022 $1,460 1,330 1,130 3,400 3,340 670 920 $ 6,690 $7,050
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