Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 11,150 Cost of goods sold 7,650

Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $ 11,150
Cost of goods sold 7,650
Depreciation 465
Earnings before interest and taxes $ 3,035
Interest paid 88
Taxable income $ 2,947
Taxes 1,031
Net income $ 1,916

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $ 200 $ 230 Accounts payable $ 1,480 $ 1,475
Accounts rec. 990 890 Long-term debt 1,010 1,330
Inventory 1,750 1,645 Common stock 3,240 2,980
Total $ 2,940 $ 2,765 Retained earnings 620 870
Net fixed assets 3,410 3,890
Total assets $ 6,350 $ 6,655 Total liab. & equity $ 6,350 $ 6,655

What is the fixed asset turnover for 2017?

1.68 times

2.24 times

2.87 times

4.03 times

.35 times

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