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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $9,900 7,900 465 $1,535 98 $1,437 503 $ 934 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 270 $ 305 Accounts payable 1,090 990 Long-term debt 1,760 1,730 Common stock $3,120 $3,025 Retained earnings 3,500 4,030 $6,620 $7,055 Total liab. & equity Cash Accounts rec. Inventory Total Net fixed assets Total assets 2016 2017 $1,580 $1,760 1,060 1,385 3,020 640 890 3,340 $6,620 $7,055 What is the return on equity for 2017? Multiple Choice 23.89% 29.37% O O 39.26% 30.93% O 50.83%
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