Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2008 Income Statement ($ in millions) Net sales $8,450 Less: Cost of goods sold 7,240 Less: Depreciation 400 Earnings before interest and taxes 810 Less: Interest paid 70 Taxable Income $ 740 Less: Taxes 259 Net income $ 481 Windswept, Inc. 2007 and 2008 Balance Sheets ($ in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2007 2008 $ 120 $ 140 930 780 1,480 1,520 $2,530 $2,440 3,150 3,600 $5,680 $6,040 2007 2008 $1,110 $1,120 840 1,210 3,200 3,000 530 710 $5,680 $6,040 a. What is the current ratio for 2008? b. What is the debt-equity ratio for 2008? c. What is the times interest earned ratio for 2008? d. What is the return on asset for 2008? e. What is the (net) profit margin for 2008? f. Windswept, Inc. has 100 million shares of stock outstanding. Its price-earnings ratio for 2008 is 12. What is the market price per share of stock? g. Verify that the ROA from (g) is equal to Profit Margin (h) x Total Asset Turnover (f) h. Verify that the ROE from (n) is equal to ROA (g) Equity Multiplier (m)