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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 10,200 Less: Cost of goods sold
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 10,200 |
Less: Cost of goods sold | 7,750 |
Less: Depreciation | 400 |
Earnings before interest and taxes | $ 2,050 |
Less: Interest paid | 92 |
Taxable Income | $ 1,958 |
Less: Taxes | 685 |
Net income | $ 1,273 |
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
2009 | 2010 | 2009 | 2010 | ||
Cash | $ 240 | $ 270 | Accounts payable | $ 1,630 | $ 1,662 |
Accounts rec. | 1,030 | 930 | Long-term debt | 1,030 | 1,313 |
Inventory | 1,880 | 1,685 | Common stock | $ 3,280 | $ 2,990 |
Total | $ 3,150 | $ 2,885 | Retained earnings | 610 | 860 |
Net fixed assets | 3,400 | 3,940 | |||
Total assets | $ 6,550 | $ 6,825 | Total liab. & equity | $ 6,550 | $ 6,825 |
What is the equity multiplier for 2010? |
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