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Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales $ 8,750 Cost of goods sold 7,300
Use the following information to answer this question. Windswept, Incorporated 2017 Income Statement ($ in millions) Net sales $ 8,750 Cost of goods sold 7,300 Depreciation 305 Earnings before interest and taxes $ 1,145 Interest paid 72 Taxable income $ 1,073 Taxes 322 Net income $ 751 Windswept, Incorporated 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 150 $ 165 Accounts payable $ 1,190 $ 1,367 Accounts receivable 920 730 Long-term debt 950 1,128 Inventory 1,520 1,530 Common stock 3,210 2,900 Total $ 2,590 $ 2,425 Retained earnings 460 710 Net fixed assets 3,220 3,680 Total assets $ 5,810 $ 6,105 Total liability & equity $ 5,810 $ 6,105 Windswept, Incorporated, has 300 million shares of stock outstanding. Its pric
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