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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 8,750 Less: Cost of goods sold
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 8,750 |
Less: Cost of goods sold | 7,230 |
Less: Depreciation | 425 |
Earnings before interest and taxes | $ 1,095 |
Less: Interest paid | 82 |
Taxable Income | $ 1,013 |
Less: Taxes | 355 |
Net income | $ 658 |
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
2009 | 2010 | 2009 | 2010 | ||
Cash | $ 120 | $ 120 | Accounts payable | $ 980 | $ 1,055 |
Accounts rec. | 800 | 700 | Long-term debt | 970 | 1,250 |
Inventory | 1,510 | 1,525 | Common stock | $ 3,190 | $ 2,900 |
Total | $ 2,430 | $ 2,345 | Retained earnings | 540 | 790 |
Net fixed assets | 3,250 | 3,650 | |||
Total assets | $ 5,680 | $ 5,995 | Total liab. & equity | $ 5,680 | $ 5,995 |
What is the fixed asset turnover? (use 2010 values) |
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