Question: Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,300 Cost of goods sold 8,100

Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 10,300 Cost of goods sold 8,100 Depreciation 485 Earnings before interest and taxes $ 1,715 Interest paid 106 Taxable income $ 1,609 Taxes 563 Net income $ 1,046 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 310 $ 345 Accounts payable $ 1,700 $ 1,940 Accounts rec. 1,170 1,070 Long-term debt 1,100 1,425 Inventory 1,840 1,790 Common stock 3,420 3,060 Total $ 3,320 $ 3,205 Retained earnings 680 930 Net fixed assets 3,580 4,150 Total assets $ 6,900 $ 7,355 Total liab. & equity $ 6,900 $ 7,355 What is the return on equity for 2017?

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