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Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,700 Cost of goods sold 7,340 Depreciation 405 Earnings before interest and taxes $
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 8,700 | |
Cost of goods sold | 7,340 | ||
Depreciation | 405 | ||
Earnings before interest and taxes | $ | 955 | |
Interest paid | 82 | ||
Taxable income | $ | 873 | |
Taxes | 306 | ||
Net income | $ | 567 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 150 | $ | 185 | Accounts payable | $ | 1,180 | $ | 1,260 | ||||
Accounts rec. | 920 | 730 | Long-term debt | 1,000 | 1,265 | ||||||||
Inventory | 1,520 | 1,550 | Common stock | 3,210 | 2,900 | ||||||||
Total | $ | 2,590 | $ | 2,465 | Retained earnings | 460 | 710 | ||||||
Net fixed assets | 3,260 | 3,670 | |||||||||||
Total assets | $ | 5,850 | $ | 6,135 | Total liab. & equity | $ | 5,850 | $ | 6,135 | ||||
What is the return on equity for 2017?
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