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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,500 Cost of goods sold 8,200

Use the following information to answer this question.

Windswept, Inc.
2017 Income Statement
($ in millions)
Net sales $ 10,500
Cost of goods sold
8,200
Depreciation
495
Earnings before interest and taxes $ 1,805
Interest paid
110
Taxable income $ 1,695
Taxes
593
Net income $ 1,102

  

Windswept, Inc.
2016 and 2017 Balance Sheets
($ in millions)


2016

2017


2016

2017
Cash $ 330
$ 365
Accounts payable $ 1,760
$ 2,030
Accounts rec.
1,210

1,110
Long-term debt
1,120

1,445
Inventory
1,880

1,820
Common stock
3,460

3,080
Total $ 3,420
$ 3,295
Retained earnings
700

950
Net fixed assets
3,620

4,210







Total assets $ 7,040
$ 7,505
Total liab. & equity $ 7,040
$ 7,505


What is the return on equity for 2017?


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