Question
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9200 Cost of goods sold 7390
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9200 Cost of goods sold 7390 Depreciation 305 Earnings before interest and taxes $ 1505 Interest paid 87 Taxable income $ 1418 Taxes 425 Net income $ 993 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 240 $ 255 Accounts payable $ 1380 $ 1315 Accounts rec. 1020 730 Long-term debt 1130 1400 Inventory 1620 1640 Common stock 3280 3010 Total $ 2880 $ 2625 Retained earnings 460 710 Net fixed assets 3370 3810 Total assets $ 6250 $ 6435 Total liab. & equity $ 6250 $ 6435 What were the total dividends paid for 2017? $585 million $455 million $738 million $250 million $743 million
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