Question: Windswept, Incorporated 2 0 1 7 Income Statement ( $ in millions ) Net sales$ 1 3 , 2 5 0 Cost of goods sold

Windswept, Incorporated2017 Income Statement($ in millions)Net sales$ 13,250Cost of goods sold8,000Depreciation500Earnings before interest and taxes$ 4,750Interest paid102Taxable income$ 4,648Taxes1,627Net income$ 3,021 Windswept, Incorporated2016 and 2017 Balance Sheets($ in millions)2016201720162017Cash$ 270$ 300Accounts payable$ 1,860$ 1,820Accounts receivable1,1301,030Long-term debt1,0801,400Inventory2,0301,750Common stock3,3803,050Total$ 3,430$ 3,080Retained earnings660910Net fixed assets3,5504,100Total assets$ 6,980$ 7,180Total liability & equity$ 6,980$ 7,180 What is the fixed asset turnover for 2017? Multiple Choice 1.85 times 3.23 times 2.25 times 4.30 times .31 times

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