Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 10,020 Cost of goods sold 8,110 Depreciation 500 Earnings before interest and taxes $ 1,410 Interest paid 118 Taxable income $ 1,292 Taxes 271 Net income $ 1,021   Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 300 $ 330 Accounts payable $ 1,650 $ 1,560 Accounts received 1,140 1,040 Long-term debt 1,170 1,370 Inventory 2,020 1,800 Common stock 3,480 3,460 Total $ 3,460 $ 3,170 Retained earnings 710 960 Net fixed assets 3,550 4,180 Total assets $ 7,010 $ 7,350 Total liabilities & equity $ 7,010 $ 7,350 What is the quick ratio for 2021?Single choice

A

2.03 times

B

.88 times

C

1.15 times

D

1.82 times

E

.87 times

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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,320 Less: Cost of goods sold 7,610 Less: Depreciation 450 Earnings before interest and taxes $ 1,260 Less: Interest paid 98 Taxable Income $ 1,162 Less: Taxes 407 Net income $ 755    Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)   2009 2010   2009 2010 Cash $ 200 $ 230 Accounts payable $ 1,250 $ 1,310 Accounts rec. 940 840 Long-term debt 1,070 1,270 Inventory 1,720 1,650 Common stock $ 3,280 $ 3,160 Total $ 2,860 $ 2,720 Retained earnings 610 860 Net fixed assets 3,350 3,880       Total assets $ 6,210 $ 6,600 Total liab. & equity $ 6,210 $ 6,600 What is the quick ratio for 2010?

Which of the following is not included in the computation of the quick ratio?

[table] | Dec 31, 2019 | Dec 31, 2020 Current Assets | | Cash And Cash Equivalents | 768,000 | 860,000 Short Term Investments | - | - Net Receivables | 1,124,000 | 950,000 Inventory | 404,000 | 396,000 Office Supplier | 203,000 | 177,000 Total Current Assets | 2,499,000 | 2,383,000 | | Liabilities | | Current Liabilities | | Accounts Payable | 2,120,000 | 2,090,000 Short/Current Long Term Debt | 137,000 | 52,000 Other Current Liabilities | - | - Total Current Liabilities | 2,257,000 | 2,142,000 | | [/table]The Quick Ratio for 2019 is:

Goat Guys Ltd. is a retail company that sells home appliances. The company’s management is reviewing its liquidity position to determine if it can meet short-term obligations effectively. The following financial data is available from Goat Guys Ltd.’s balance sheet:Cash and Cash Equivalents: $33,000Accounts Receivable: $55,000Inventory: $82,000Accounts Payable: $43,000Mortgage Payable: $55,000The finance team wants to calculate the Quick Ratio to assess how well the company can meet its short-term liabilities using its most liquid assets. What is the Quick Ratio of Goat Guys Ltd.?

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