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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 11,000 Cost of goods sold 8,200
Use the following information to answer this question.
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 11,000 | |
Cost of goods sold | 8,200 | ||
Depreciation | 395 | ||
Earnings before interest and taxes | $ | 2,405 | |
Interest paid | 110 | ||
Taxable income | $ | 2,295 | |
Taxes | 689 | ||
Net income | $ | 1,606 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 420 | $ | 445 | Accounts payable | $ | 2,060 | $ | 2,005 | ||||
Accounts rec. | 1,210 | 1,110 | Long-term debt | 1,120 | 1,580 | ||||||||
Inventory | 1,980 | 1,820 | Common stock | 3,460 | 3,190 | ||||||||
Total | $ | 3,610 | $ | 3,375 | Retained earnings | 700 | 950 | ||||||
Net fixed assets | 3,730 | 4,350 | |||||||||||
Total assets | $ | 7,340 | $ | 7,725 | Total liab. & equity | $ | 7,340 | $ | 7,725 | ||||
What were the total dividends paid for 2017? $1,161 million $250 million $505 million $825 million $1,356 million |
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