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Category > Business & Finance Posted 21 May 2017 My Price 8.00

Use the following information to answer this question.

Use the following information to answer this question.

    

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,500
Less: Cost of goods sold 7,700
Less: Depreciation

445
Earnings before interest and taxes $ 1,355
Less: Interest paid

90
Taxable Income $ 1,265
Less: Taxes

443
Net income

$ 822

   

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)
 

2009

2010

  

2009

2010
Cash $ 230 $ 265 Accounts payable $ 1,460 $ 1,580
Accounts rec. 1,010 910 Long-term debt 1,020 1,345
Inventory

1,680

1,670

 Common stock $ 3,260 $ 2,980
Total $ 2,920 $ 2,845 Retained earnings

600

850
Net fixed assets

3,420

3,910

      
Total assets

$ 6,340

$ 6,755

 Total liab. & equity

$ 6,340

$ 6,755

  

What is the return on equity for 2010?

35.38 percent

27.58 percent

26.35 percent

21.46 percent

45.47 percent

Answers

Homework Helper
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Status NEW Posted 21 May 2017 07:05 AM My Price 8.00

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