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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,900 Cost of goods sold 7,900
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,900 Cost of goods sold 7,900 Depreciation 465 Earnings before interest and taxes $ 1,535 Interest paid 98 Taxable income $ 1,437 Taxes 503 Net income $ 934 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 270 $ 305 Accounts payable $ 1,580 $ 1,760 Accounts rec. 1,090 990 Long-term debt 1,060 1,385 Inventory 1,760 1,730 Common stock 3,340 3,020 Total $ 3,120 $ 3,025 Retained earnings 640 890 Net fixed assets 3,500 4,030 Total assets $ 6,620 $ 7,055 Total liab. & equity $ 6,620 $ 7,055 What is the return on equity for 2017
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