Question: Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 10,850 Cost of goods sold 7,600 Depreciation

Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 10,850 Cost of goods sold 7,600 Depreciation 460 Earnings before interest and taxes $ 2,790 Interest paid 96 Taxable income $ 2,694 Taxes 943 Net income $ 1,751 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 190 $ 220 Accounts payable $ 1,440 $ 1,430 Accounts receivable 970 870 Long-term debt 1,000 1,320 Inventory 1,720 1,630 Common stock 3,220 2,970 Total $ 2,880 $ 2,720 Retained earnings 610 860 Net fixed assets 3,390 3,860 Total assets $ 6,270 $ 6,580 Total liabilities & equity $ 6,270 $ 6,580 What is the fixed asset turnover for 2022? Multiple Choice 3.99 times 2.81 times .36 times 1.65 times 2.24 times PrevQuestion 18 of 71 Total18 of 71Visit question mapNex

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