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

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

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 $10,800 8,100 385 $ 2,315 106 $ 2,209 663 $ 1,546 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 400 $ 425 Accounts rec. 1,170 1,070 Accounts payable Long-term debt $2,000 $1,925 1,100 1,560 Inventory Total 1,940 1,800 $3,510 $3,295 Net fixed assets 3,690 4,290 Common stock Retained earnings 3,420 3,170 680 930 Total assets $7,200 $7,585 Total liab. & equity $7,200 $7,585

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