Question
Use the following information to answer this question.Windswept, Inc. 2010 Income Statement ($ in millions)Net sales$ 9,800Less: Cost of goods sold7,850Less: Depreciation460 Earnings before interest
Use the following information to answer this question.Windswept, Inc. 2010 Income Statement ($ in millions)Net sales$ 9,800Less: Cost of goods sold7,850Less: Depreciation460
Earnings before interest and taxes$ 1,490Less: Interest paid96
Taxable Income$ 1,394Less: Taxes488
Net income$ 906
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)2009
2010
2009
2010
Cash$ 260$ 295Accounts payable$ 1,550$ 1,715Accounts rec.1,070970Long-term debt1,0501,375Inventory1,740
1,715
Common stock$ 3,320$ 3,010Total$ 3,070$ 2,980Retained earnings630
880
Net fixed assets3,480
4,000
Total assets$ 6,550
$ 6,980
Total liab. & equity$ 6,550
$ 6,980
What is the return on equity for 2010?
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Analysis for Financial Management
Authors: Robert C. Higgins
12th edition
1259918963, 9781260140729 , 978-1259918964
