Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 11,750 Cost of goods sold 7,750 Depreciation 475 Earnings before interest and taxes $ 3,525 Interest paid 92 Taxable income $ 3,433 Taxes 721 Net income $ 2,712 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 220 $ 250 Accounts payable $ 1,660 $ 1,595 Accounts received 1,030 930 Long-term debt 1,030 1,350 Inventory 1,880 1,675 Common stock 3,280 3,000 Total $ 3,130 $ 2,855 Retained earnings 610 860 Net fixed assets 3,450 3,950 Total assets $ 6,580 $ 6,805 Total liabilities & equity $ 6,580 $ 6,805 What is the fixed asset turnover for 2021?
Use the following information to answer this question: Windswept, Incorporated 2021 Income Statement ($ in millions) Net sales $ 11,750 Cost of goods sold 7,750 Depreciation 475 Earnings before interest and taxes $ 3,525 Interest paid 92 Taxable income $ 3,433 Taxes 721 Net income $ 2,712 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 2021 2020 2021 Cash $ 220 $ 250 Accounts payable $ 1,660 $ 1,595 Accounts received 1,030 930 Long-term debt 1,030 1,350 Inventory 1,880 1,675 Common stock 3,280 3,000 Total $ 3,130 $ 2,855 Retained earnings 610 860 Net fixed assets 3,450 3,950 Total assets $ 6,580 $ 6,805 Total liabilities & equity $ 6,580 $ 6,805 What is the fixed asset turnover for 2021?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Use the following information to answer this question:
| Windswept, Incorporated | |
| 2021 Income Statement | |
| ($ in millions) | |
| Net sales | $ 11,750 |
|---|---|
| Cost of goods sold | 7,750 |
| 475 | |
| Earnings before interest and taxes | $ 3,525 |
| Interest paid | 92 |
| Taxable income | $ 3,433 |
| Taxes | 721 |
| Net income | $ 2,712 |
| Windswept, Incorporated | |||||
| 2020 and 2021 |
|||||
| ($ in millions) | |||||
| 2020 | 2021 | 2020 | 2021 | ||
|---|---|---|---|---|---|
| Cash | $ 220 | $ 250 | Accounts payable | $ 1,660 | $ 1,595 |
| Accounts received | 1,030 | 930 | Long-term debt | 1,030 | 1,350 |
| Inventory | 1,880 | 1,675 | Common stock | 3,280 | 3,000 |
| Total | $ 3,130 | $ 2,855 | 610 | 860 | |
| Net fixed assets | 3,450 | 3,950 | |||
| Total assets | $ 6,580 | $ 6,805 | Total liabilities & equity | $ 6,580 | $ 6,805 |
What is the fixed asset turnover for 2021?
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