Question: 16. Use the following information to answer this question. Windswept Inc 2010 Income Statenent (S in milions) Net sales Less Cost of goods sold Less

 16. Use the following information to answer this question. Windswept Inc

16. Use the following information to answer this question. Windswept Inc 2010 Income Statenent (S in milions) Net sales Less Cost of goods sold Less Depreciation Earnings before interest and taxes Less Interest paid Taxable Income $9.800 7.850 400 $1.490 06 $ 1.304 488 Less Taxes Net income $ 906 Windswept, Inc 2009 and 2010 Balance Sheets (S in milions) 2009 2010 $1.550 $1.715 1,050 2010 $295Accounts payable 970 Long-term debt 1715 Common stock $2.980 Retained earnings 4.000 2009 $ 260 Cash 1,375 $3,320 $3.010 630 Accounts rec Inventory Total 1,070 1,740 $3.070 3,480 $6.550 $6.980Total liab &equity 880 Net fixed assets $6.550 $6.980 Total assets What is the return on a. 30% b. 28% c. 23% d. 38% equity for 2010? (round to the nearest %) C e. 49%

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