Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 13,250 Cost of goods sold 8,000

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $ 13,250
Cost of goods sold 8,000
Depreciation 500
Earnings before interest and taxes $ 4,750
Interest paid 102
Taxable income $ 4,648
Taxes 1,627
Net income $ 3,021

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $ 270 $ 300 Accounts payable $ 1,860 $ 1,820
Accounts rec. 1,130 1,030 Long-term debt 1,080 1,400
Inventory 2,030 1,750 Common stock 3,380 3,050
Total $ 3,430 $ 3,080 Retained earnings 660 910
Net fixed assets 3,550 4,100
Total assets $ 6,980 $ 7,180 Total liab. & equity $ 6,980 $ 7,180

What is the fixed asset turnover for 2017?

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