Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales	$	10,500
Cost of goods sold		8,200
Depreciation		495
Earnings before interest and taxes	$	1,805
Interest paid		110
Taxable income	$	1,695
Taxes		593
Net income	$	1,102

  

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
		2016			2017				2016			2017
Cash	$	330		$	365		Accounts payable	$	1,760		$	2,030
Accounts rec.		1,210			1,110		Long-term debt		1,120			1,445
Inventory		1,880			1,820		Common stock		3,460			3,080
Total	$	3,420		$	3,295		Retained earnings		700			950
Net fixed assets		3,620			4,210
Total assets	$	7,040		$	7,505		Total liab. & equity	$	7,040		$	7,505

What is the return on equity for 2017?

Answer rating: 100% (QA)

The return on equity for Windswept Inc in 2017 is 1836 This calcu... View the full answer