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Use the following information to answer this question. ...

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Question

Accounting

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,530
Less: Cost of goods sold 7,760
Less: Depreciation

465
Earnings before interest and taxes $ 1,305
Less: Interest paid

104
Taxable Income $ 1,201
Less: Taxes

420
Net income

$ 781

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010
Cash $ 230 $ 260 Accounts payable $ 1,370 $ 1,385
Accounts rec. 1,000 900 Long-term debt 1,100 1,300
Inventory

1,810

1,695

 Common stock $ 3,340 $ 3,250
Total $ 3,040 $ 2,855 Retained earnings

640

890
Net fixed assets

3,410

3,970
Total assets

$ 6,450

$ 6,825

 Total liab. & equity

$ 6,450

$ 6,825

What is the quick ratio for 2010?

1.22

2.06

1.87

0.82

0.84

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