Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $11, 250 8,100 435 $ 2,715 106 $ 2,609 913 $ 1,696 Cash Accounts rec. Inventory Total Net fixed assets Total assets Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 310 $ 340 Accounts payable 1,170 1,070 Long-term debt 2,090 1,790 Common stock $3,570 $3,200 Retained earnings 3,540 4,150 $7,110 $7,350 Total liab. & equity 2016 2017 $1,910 $1,977 1,100 1,383 3,420 3,060 680 930 $7,110 $7,350 What is the equity multiplier for 2017
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
