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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,800 Cost of goods sold 7,390
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,800 Cost of goods sold 7,390 Depreciation 410 Earnings before interest and taxes $ 1,000 Interest paid 84 Taxable income $ 916 Taxes 321 Net income $ 595 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 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 2017
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