Net sales Windswept, Incorporated 2021 Income Statement Cost of goods sold Depreciation ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 10,800 7,950 420 $ 2,430 100 $ 2,330 489 $ 1,841 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 Cash $ 280 $ 310 Accounts payable $ 1,790 2021 $ 1,842 Accounts received 1,110 1,010 Long-term debt Inventory 2,000 1,745 Common stock 1,070 3,360 1,353 3,030 Total $ 3,390 $ 3,065 Retained earnings 650 900 Net fixed assets 3,480 4,060 Total assets $ 6,870 $ 7,125 Total liabilities & equity $ 6,870 $ 7,125 What is the equity multiplier for 2021?
Net sales Windswept, Incorporated 2021 Income Statement Cost of goods sold Depreciation ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income $ 10,800 7,950 420 $ 2,430 100 $ 2,330 489 $ 1,841 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 Cash $ 280 $ 310 Accounts payable $ 1,790 2021 $ 1,842 Accounts received 1,110 1,010 Long-term debt Inventory 2,000 1,745 Common stock 1,070 3,360 1,353 3,030 Total $ 3,390 $ 3,065 Retained earnings 650 900 Net fixed assets 3,480 4,060 Total assets $ 6,870 $ 7,125 Total liabilities & equity $ 6,870 $ 7,125 What is the equity multiplier for 2021?
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Question
![Net sales
Windswept, Incorporated
2021 Income Statement
Cost of goods sold
Depreciation
($ in millions)
Earnings before interest and taxes
Interest paid
Taxable income
Taxes
Net income
$ 10,800
7,950
420
$ 2,430
100
$ 2,330
489
$ 1,841
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020
2021
2020
Cash
$ 280
$ 310
Accounts payable
$ 1,790
2021
$ 1,842
Accounts received
1,110
1,010
Long-term debt
Inventory
2,000
1,745
Common stock
1,070
3,360
1,353
3,030
Total
$ 3,390
$ 3,065
Retained earnings
650
900
Net fixed assets
3,480
4,060
Total assets
$ 6,870
$ 7,125
Total liabilities & equity
$ 6,870
$ 7,125
What is the equity multiplier for 2021?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F245c478b-d21a-470c-891d-3625831399c2%2F9a8e9051-b261-48ff-aacd-f648da91ed81%2Fdelfkxq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Net sales
Windswept, Incorporated
2021 Income Statement
Cost of goods sold
Depreciation
($ in millions)
Earnings before interest and taxes
Interest paid
Taxable income
Taxes
Net income
$ 10,800
7,950
420
$ 2,430
100
$ 2,330
489
$ 1,841
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020
2021
2020
Cash
$ 280
$ 310
Accounts payable
$ 1,790
2021
$ 1,842
Accounts received
1,110
1,010
Long-term debt
Inventory
2,000
1,745
Common stock
1,070
3,360
1,353
3,030
Total
$ 3,390
$ 3,065
Retained earnings
650
900
Net fixed assets
3,480
4,060
Total assets
$ 6,870
$ 7,125
Total liabilities & equity
$ 6,870
$ 7,125
What is the equity multiplier for 2021?
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