Question
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,400 Cost of goods sold 7,650
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,400 Cost of goods sold 7,650 Depreciation 440 Earnings before interest and taxes $ 1,310 Interest paid 88 Taxable income $ 1,222 Taxes 428 Net income $ 794 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 220 $ 255 Accounts payable $ 1,490 $ 1,595 Accounts rec. 990 890 Long-term debt 1,010 1,335 Inventory 1,660 1,655 Common stock 3,240 2,970 Total $ 2,870 $ 2,800 Retained earnings 530 780 Net fixed assets 3,400 3,880 Total assets $ 6,270 $ 6,680 Total liab. & equity $ 6,270 $ 6,680 What is the return on equity for 2017?
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