Windswept, inc. 2010 income statement ($ in millions) net sales $ 8,700 less: cost of goods sold 7,340 less: depreciation 405 earnings before interest and taxes $ 955 less: interest paid 82 taxable income $ 873 less: taxes 306 net income $ 567 windswept, inc. 2009 and 2010 balance sheets ($ in millions) 2009 2010 2009 2010 cash $ 150 $ 185 accounts payable $ 1,180 $ 1,260 accounts rec. 920 730 long-term debt 1,000 1,265 inventory 1,520 1,550 common stock $ 3,210 $ 2,900 total $ 2,590 $ 2,465 retained earnings 460 710 net fixed assets 3,260 3,670 total assets $ 5,850 $ 6,135 total liab. & equity $ 5,850 $ 6,135 what is the return on equity for 2010?

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Atax on the sellers of coffee will a. increase the price of coffee paid by buyers, increase the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. b. increase the price of coffee paid by buyers, increase the e ffective price of coffee received by sellers, and decrease the equilibrium quantity of coffee. c. increase the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and increase the equilibrium quantity of coffee. d. increa se the price of coffee paid by buyers, decrease the effective price of coffee received by sellers, and decrease the equilibrium quantity of coffee.

Your father offers you a choice of $120,000 in 11 years or $48,500 today. use appendix b as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. if money is discounted at 11 percent, what is the present value of the $120,000?