Use the following information to answer this question. 53 Windswept, Inc. Current Income Statement ($...
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Use the following information to answer this question. 53 Windswept, Inc. Current Income Statement ($ in millions) Net sales $ 10,000 Less: Cost of goods sold 7,700 Less: Depreciation 345 Earnings before interest and taxes $ 1.955 Less: Interest paid 90 Taxable income $ 1.865 Less: Taxes 560 Net income $ 1,305 Dividends $ 1,055 Windswept, Inc. Balance Sheets ($ in millions) Last This Last This Year Year Year Year Cash $ 320 $ 335 Accounts payable $ 1,760 $ 1,595 Accounts rec. 1,010 910 Long-term debt 1,020 1,4801 inventory 1,780 1,720 Common stock $ 3,260 $ 3,090 Total $ 3,110 $ 2,965 Retained earnings 600 850 Net fixed assets 3,530 4,050 Total assets $ 6,640 $ 7,015 Total liab. & equity $6,640 $ 7,015
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