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Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $ 300 $ 335 Accounts payable $ 1,670 $ 1,895
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 10,200 |
Less: Cost of goods sold | 8,050 |
Less: Depreciation | 480 |
Earnings before interest and taxes | $ 1,670 |
Less: Interest paid | 104 |
Taxable Income | $ 1,566 |
Less: Taxes | 548 |
Net income | $ 1,018 |
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