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Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,450 Cost of goods sold 7,500 Depreciation
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 9,450 Cost of goods sold 7,500 Depreciation 375 Earnings before interest and taxes $ 1,575 Interest paid 93 Taxable income $ 1,482 Taxes 519 Net income $ 963 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 190 $ 220 Accounts payable $ 1,270 $ 1,467 Accounts receivable 900 800 Long-term debt 1,030 1,263 Inventory 1,660 1,610 Common stock 3,250 2,940 Total $ 2,750 $ 2,630 Retained earnings 500 750 Net fixed assets 3,300 3,790 Total assets $ 6,050 $ 6,420 Total liabilities & equity $ 6,050 $ 6,420 What is the equity multiplier for 2022? Multiple Choice 2.56 times 1.29 times 3.21 times 2.18 times 1.74 times
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