Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,000 Cost of goods sold 7,700
Use the following information to answer this question.
| Windswept, Inc. 2017 Income Statement ($ in millions) | |||
| Net sales | $ | 10,000 | |
| Cost of goods sold | 7,700 | ||
| Depreciation | 345 | ||
| Earnings before interest and taxes | $ | 1,955 | |
| Interest paid | 90 | ||
| Taxable income | $ | 1,865 | |
| Taxes | 560 | ||
| Net income | $ | 1,305 | |
| Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 320 | $ | 335 | Accounts payable | $ | 1,760 | $ | 1,595 | ||||
| Accounts rec. | 1,010 | 910 | Long-term debt | 1,020 | 1,480 | ||||||||
| Inventory | 1,780 | 1,720 | Common stock | 3,260 | 3,090 | ||||||||
| Total | $ | 3,110 | $ | 2,965 | Retained earnings | 600 | 850 | ||||||
| Net fixed assets | 3,530 | 4,050 | |||||||||||
| Total assets | $ | 6,640 | $ | 7,015 | Total liab. & equity | $ | 6,640 | $ | 7,015 | ||||
What were the total dividends paid for 2017?
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