Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions)...
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Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 10,350 Cost of goods sold Depreciation Earnings before interest and taxes 7,800 405 $ 2,145 Interest paid Taxable income 94 $ 2,051 Taxes 431 Net income $ 1,620 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 280 $ 250 1,050 1,910 Accounts payable Long-term debt $ 1,670 $1,707 Accounts received 950 1,040 1,323 Inventory Total Net fixed assets 1,700 $ 2,930 3,970 $ 6,900 Common stock 3,300 3,000 $ 3,210 Retained earnings 620 870 3,420 Total assets $ 6,630 Total liabilities & equity $ 6,630 $ 6,900 What is the equity multiplier for 2021? What is the equity multiplier for 2021? Multiple Choice 1.78 times 2.67 times 2.30 times 3.45 times 1.32 times Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 10,350 Cost of goods sold Depreciation Earnings before interest and taxes 7,800 405 $ 2,145 Interest paid Taxable income 94 $ 2,051 Taxes 431 Net income $ 1,620 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 280 $ 250 1,050 1,910 Accounts payable Long-term debt $ 1,670 $1,707 Accounts received 950 1,040 1,323 Inventory Total Net fixed assets 1,700 $ 2,930 3,970 $ 6,900 Common stock 3,300 3,000 $ 3,210 Retained earnings 620 870 3,420 Total assets $ 6,630 Total liabilities & equity $ 6,630 $ 6,900 What is the equity multiplier for 2021? What is the equity multiplier for 2021? Multiple Choice 1.78 times 2.67 times 2.30 times 3.45 times 1.32 times
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Related Book For
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
Posted Date:
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