Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $10,950 Less: Cost of goods sold...

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Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $10,950 Less: Cost of goods sold 8,000 Less: Depreciation 425 Earnings before interest and taxes $2,525 Less: Interest paid 102 Taxable Income $2,423 Less: Taxes 848 Net income $1,575 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $290 $320 Accounts payable $1,830 $1,887 Accounts rec. 1,130 1,030 Long-term debt 1,080 1,363 Inventory 2,030 1,760 Common stock $3,380 $3,040 Total $3,450 $3,110 Retained earnings 660 910 Net fixed assets 3,500 4,090 Total assets $6,950 $7,200 Total liab. & equity $ 6,950 $ 7,200 What is the equity multiplier for 2010? Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $10,950 Less: Cost of goods sold 8,000 Less: Depreciation 425 Earnings before interest and taxes $2,525 Less: Interest paid 102 Taxable Income $2,423 Less: Taxes 848 Net income $1,575 Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009 2010 2009 2010 Cash $290 $320 Accounts payable $1,830 $1,887 Accounts rec. 1,130 1,030 Long-term debt 1,080 1,363 Inventory 2,030 1,760 Common stock $3,380 $3,040 Total $3,450 $3,110 Retained earnings 660 910 Net fixed assets 3,500 4,090 Total assets $6,950 $7,200 Total liab. & equity $ 6,950 $ 7,200 What is the equity multiplier for 2010?

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