Question: Question QUESTION 29 Use the following information to answer this question. Windswept, Inc. 2010 Income Statement (S in millions) Net sales $ 8,800 Less: Cost

Question QUESTION 29 Use the following information to answer this question. Windswept, Inc. 2010 Income Statement (S in millions) Net sales $ 8,800 Less: Cost of goods sold W 17,390 Less: Depreciation 1410 Earnings before interest and taxes $1,000 Less: Interest paid 84 Taxable income $ 916 Less: Taxes 321 Net income $ 595 Windswept Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 $ 160 $ 195 Accounts payable 940 840 Long-term debt 1,540 11,565 Common stock Cash Accounts rec Inventory Total Net Foxed assets Total assets $ 2,840 $2,800 Relained earnings 3.280 3.700 $5920 56.300 Total liab. & equity 2009 2010 $ 1,210 $ 1,395 11.010 1.275 $ 3,230 $ 2,910 470720 What is the return on equity for 2010? (round to the nearest 96) $ 5,920 $ 6,300 27% 16 20 19

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