Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 $140 2022 $ 120 800 1,510 720 1,535 $ 2,450 $ 2,375 3,200 3,640 $ 5,650 $ 6,015 What is the equity multiplier for 2022? $8,700 7,250 350 $ 1,100 83 $ 1,017 356 $ 661 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,070 980 3,150 450 $ 5,650 2022 $1,212 1,213 2,890 700 $ 6,015

Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income Cash Accounts receivable Inventory Total Net fixed assets Total assets 2021 $140 2022 $ 120 800 1,510 720 1,535 $ 2,450 $ 2,375 3,200 3,640 $ 5,650 $ 6,015 What is the equity multiplier for 2022? $8,700 7,250 350 $ 1,100 83 $ 1,017 356 $ 661 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Accounts payable Long-term debt Common stock Retained earnings Total liabilities & equity 2021 $ 1,070 980 3,150 450 $ 5,650 2022 $1,212 1,213 2,890 700 $ 6,015

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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