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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 8,800 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 8,800
Less: Cost of goods sold 7,390
Less: Depreciation

410

Earnings before interest and taxes $ 1,000
Less: Interest paid

84

Taxable Income $ 916
Less: Taxes

321

Net income

$ 595

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 160 $ 195 Accounts payable $ 1,210 $ 1,395
Accounts rec. 940 840 Long-term debt 1,010 1,275
Inventory

1,540

1,565

Common stock $ 3,230 $ 2,910
Total $ 2,640 $ 2,600 Retained earnings

470

720

Net fixed assets

3,280

3,700

Total assets

$ 5,920

$ 6,300

Total liab. & equity

$ 5,920

$ 6,300

What is the return on equity for 2010?

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