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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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