Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes $ 9,810 7,960 485 $ 1,365 112 $ 1,253 263 Net income $ 990 Cash Accounts received Inventory Total Net fixed assets Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 $ 270 $ 300 Accounts payable 1,080 980 Long-term debt 1,930 1,755 Common stock $ 3,280 $ 3,035 Retained earnings 4,090 $ 6, $ 7,125 Total liabilities & equity 2020 $ 1,530 1,140 3,420 2021 $ 1,485 1,340 3,370 930 680 3,490 Total assets $ 6, 770 $ 7,125 What is the quick ratio for 2021? Multiple Choice O 2.04 times o O .86 times O O O a 1.18 times O O .85 times O O 1.84 times O
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
