Use the following information to answer this question: Winds…
Use the following information to answer this question: Windswept, Incorporated2024 Income Statement($ in millions)Net sales$ 10,400Cost of goods sold8,150Depreciation430Earnings before interest and taxes$ 1,820Interest paid108Taxable income$ 1,712Taxes360Net income$ 1,352 Windswept, Incorporated2023 and 2024 Balance Sheets($ in millions) 20232024 20232024Cash$ 310$ 340Accounts payable$ 1,750$ 1,992Accounts received1,1901,090Long-term debt1,1101,423Inventory1,8601,815Common stock3,4403,070Total$ 3,360$ 3,245Retained earnings690940Net fixed assets3,6304,180 Total assets$ 6,990$ 7,425Total liabilities & equity$ 6,990$ 7,425 What is the cash coverage ratio for 2024?