Use the following information to answer this question: Net sales Cost of goods sold. Depreciation Windswept, Incorporated 2021 Income Statement ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets. Total assets What is the equity multiplier for 2021? Multiple Choice O 1.78 times. 3.33 times 2.25 times $ 9,900 7,650 390 $ 1,860 88 $ 1,772 372 $ 1,400 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 $ 220 2021 $250 890 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675
Use the following information to answer this question: Net sales Cost of goods sold. Depreciation Windswept, Incorporated 2021 Income Statement ($ in millions) Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts received Inventory Total Net fixed assets. Total assets What is the equity multiplier for 2021? Multiple Choice O 1.78 times. 3.33 times 2.25 times $ 9,900 7,650 390 $ 1,860 88 $ 1,772 372 $ 1,400 Windswept, Incorporated 2020 and 2021 Balance Sheets ($ in millions) 2020 $ 220 2021 $250 890 990 1,750 1,655 $ 2,960 $ 2,795 3,360 3,880 $ 6,320 $ 6,675 Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2020 $ 1,540 1,010 3,240 530 $ 6,320 2021 $ 1,632 1,293 2,970 780 $ 6,675
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...
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