Question: Use the information below to answer this question. Windswept, Inc. 2017 Income Statement (in millions) net sales $ 10.000 cost of goods sold 7.700 Depreciation

Use the information below to answer this question.

Windswept, Inc.
2017 Income Statement
(in millions)
net sales$10.000
cost of goods sold7.700
Depreciation345
Earnings excluding interest and taxes$1.955
interest payment90
taxable income$1.865
taxes560
Net income$1.305

Windswept, Inc.
2016 and 2017 Balance Sheets
(in millions of dollars)
2016201720162017
in advance$320$335Accounts payable$1.760$1.595
Accounts1.010910long-term debt1.0201.480
Inventory1.7801.720stock3.2603.090
Total$3.110$2.965Retained earnings600850
net fixed assets3.5304.050
Total assets$6.640$7.015Total debt. & Equality$6.640$7.015


What was the total dividend payment in 2017?

Step by Step Solution

3.44 Rating (157 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The income statement does not provide information about the dividend payment T... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!