11 value 10.00 points MC algo 3-15 Return On Equity Use the following information to...
60.1K
Verified Solution
Link Copied!
Question
Finance
11 value 10.00 points MC algo 3-15 Return On Equity Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) $ 8,700 Net sales Cost of goods sold Depreciation Earnings before interest and taxes 7,340 405 955 82 Interest paid Taxable income 873 306 Taxes 567 Net income Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2017 $ 1,260 2016 2017 2016 $ 1180 150 Accounts payable Cash 185 Accounts rec 920 730 1,000 1,265 Long-term debt Common stock Retained eanings 1,520 1,550 Inventor 3,210 460 2,900 Total Net fixed assets $2,590 3,260 2,465 3,670 710 $ 6,135 $ 6,135 $ 5,850 $5,850 Total liab. & equity Total assets What is the return on equity for 2017? 19.55% 32.93% 15.71% 18.56% 26.45%
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
