Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,950 Cost of goods sold 7,410

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $ 8,950
Cost of goods sold 7,410
Depreciation 430
Earnings before interest and taxes $ 1,110
Interest paid 90
Taxable income $ 1,020
Taxes 357
Net income $ 663

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $ 160 $ 190 Accounts payable $ 1,090 $ 1,210
Accounts rec. 860 760 Long-term debt 1,030 1,230
Inventory 1,600 1,590 Common stock 3,200 3,040
Total $ 2,620 $ 2,540 Retained earnings 570 820
Net fixed assets 3,270 3,760
Total assets $ 5,890 $ 6,300 Total liab. & equity $ 5,890 $ 6,300

What is the quick ratio for 2017?

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