Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 10,400 Cost of goods sold 7,900 Depreciation
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales $ 10,400 Cost of goods sold 7,900 Depreciation 365 Earnings before interest and taxes $ 2,135 Interest paid 98 Taxable income $ 2,037 Taxes 611 Net income $ 1,426 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 360 $ 380 Accounts payable $ 1,880 $ 1,760 Accounts receivable 1,090 990 Long-term debt 1,060 1,520 Inventory 1,860 1,760 Common stock 3,340 3,130 Total $ 3,310 $ 3,130 Retained earnings 640 890 Net fixed assets 3,610 4,170 Total assets $ 6,920 $ 7,300 Total liabilities & equity $ 6,920 $ 7,300 What were the total dividends paid for 2022? Multiple Choice $765 million $510 million $250 million $1,176 million $1,046 million PrevQuestion 27 of 71 Total27 of 71Visit question mapNext
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started