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Windswept, Inc. Current Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $ 9,700 7,550 330 $ 1,820 97 $ 1,723 517

Windswept, Inc. Current Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes $ 9,700 7,550 330 $ 1,820 97 $ 1,723 517

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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66.

Subject  :- Accounting 

Use the following information to answer this question. Windswept, Inc. Current Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income Dividends Windswept, Inc. Balance Sheets ($ in millions) Cash Accounts rec. Inventory Total C.A. Net fixed assets Total assets Last This Year Year $ 290 $ 305 950 850 1,720 1,690 $ $ 2,960 2,845 3,470 3,960 $ $ 6,430 6,805 Multiple Choice $-110 million $933 million $923 million $-497 million $703 million Long- term debt Common stock Retained earnings $ 9,700 Accounts $ $ payable 1,540 1,535 Total liab. & equity 7,550 330 $ 1,820 97 $ 1,723 517 $ 1,206 $956 Last This Year Year 1,180 1,450 $ $ 3,200 3,060 510 760 $ $ 6,430 6,805 Note that OCF is $1,633 and Net Capital Spending is 820. What is the Cash Flow from Assets?
Transcribed Image Text:Use the following information to answer this question. Windswept, Inc. Current Income Statement ($ in millions) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income Dividends Windswept, Inc. Balance Sheets ($ in millions) Cash Accounts rec. Inventory Total C.A. Net fixed assets Total assets Last This Year Year $ 290 $ 305 950 850 1,720 1,690 $ $ 2,960 2,845 3,470 3,960 $ $ 6,430 6,805 Multiple Choice $-110 million $933 million $923 million $-497 million $703 million Long- term debt Common stock Retained earnings $ 9,700 Accounts $ $ payable 1,540 1,535 Total liab. & equity 7,550 330 $ 1,820 97 $ 1,723 517 $ 1,206 $956 Last This Year Year 1,180 1,450 $ $ 3,200 3,060 510 760 $ $ 6,430 6,805 Note that OCF is $1,633 and Net Capital Spending is 820. What is the Cash Flow from Assets?
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