Question 17 Windepline 2008 Incense Statement (5 in millions SN 450 7.240 400 810 Net sales Lesst Cost of goods sold Less Depreciation Earnings before interest and taxes Less: Interest paid Taxable income Less: Taxes Net income S 740 252 S481 Windswept, Inc. 2007 and 2008 Balance Sheets (S in millions) Cash Accounts rec 2007 2008 $ 120 $ 140 930 780 1.480 1.320 $2,530 $2,440 3.150 3.600 $5,680 $6,040 2007 2008 $1,110 S1,120 840 1.210 3.200 3.000 530 710 Accounts payable Long-term debt Common stock Retained earnings Inventory Total Net fixed assets Total assets Total liabilities & equity $5.680 56.00 What is the return on equity for 2011