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Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,750 Cost of goods sold 7,600 Depreciation 385 Earnings before interest and taxes $
| Windswept, Inc. 2017 Income Statement ($ in millions) | |||
| Net sales | $ | 9,750 | |
| Cost of goods sold | 7,600 | ||
| Depreciation | 385 | ||
| Earnings before interest and taxes | $ | 1,765 | |
| Interest paid | 97 | ||
| Taxable income | $ | 1,668 | |
| Taxes | 584 | ||
| Net income | $ | 1,084 | |
| Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 210 | $ | 240 | Accounts payable | $ | 1,500 | $ | 1,587 | ||||
| Accounts rec. | 970 | 870 | Long-term debt | 1,000 | 1,283 | ||||||||
| Inventory | 1,720 | 1,640 | Common stock | 3,220 | 2,960 | ||||||||
| Total | $ | 2,900 | $ | 2,750 | Retained earnings | 520 | 770 | ||||||
| Net fixed assets | 3,340 | 3,850 | |||||||||||
| Total assets | $ | 6,240 | $ | 6,600 | Total liab. & equity | $ | 6,240 | $ | 6,600 | ||||
What is the equity multiplier for 2017?
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Financial Management Core Concepts
Authors: Raymond Brooks
3rd Edition
0133866742, 9780133866742
