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Use the following information to answer this question: Windswept, Incorporated2024 Income Statement($ in millions)Net sales$ 8,700Cost of goods sold7,300Depreciation345Earnings before interest and taxes$ 1,055Interest paid87Taxable income$ 968Taxes203Net income$ 765 Windswept, Incorporated2023 and 2024 Balance Sheets($ in millions) 20232024 20232024Cash$ 140$ 170Accounts payable$ 1,180$ 1,267Accounts received920730Long-term debt1,0201,253Inventory1,5201,560Common stock3,2102,900Total$ 2,580$ 2,460Retained earnings460710Net fixed assets3,2903,670 Total assets$ 5,870$ 6,130Total liabilities & equity$ 5,870$ 6,130 What is the cash coverage ratio for 2024?

Teddy’s Pillows had beginning net fixed assets of $473 and ending net fixed assets of $554. Assets valued at $321 were sold during the year. Depreciation was $46. What is the amount of net capital spending?

You are considering the purchase of new living room furniture that costs $1,380. The store will allow you to make weekly payments of $29.74 for one year to pay off the loan. What is the EAR of this arrangment?

You have just started a new job and plan to save $4,900 per year for 42 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 9.96 percent?

The winner of the first annual Tom Morris Golf Invitational won $180 in the competition which was held in 1914. In 2015, the winner received $1,610,000. If the winner’s purse continues to increase at the same interest rate, how much will the winner receive in 2048? (Assume annual compounding.)

Smashed Pumpkins Company paid $208 in dividends and $631 in interest over the past year. The company increased retained earnings by $528 and had accounts payable of $702. Sales for the year were $16,580 and depreciation was $756. The tax rate was 21 percent. What was the company’s EBIT?

You have just started a new job and plan to save $4,700 per year for 44 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 10.24 percent?

You need to have $31,250 in 14 years. You can earn an annual interest rate of 4 percent for the first 4 years, 4.6 percent for the next 3 years, and 5.3 percent for the final 7 years. How much do you have to deposit today? (Assume annual compounding.)

The winner of the first annual Tom Morris Golf Invitational won $110 in the competition which was held in 1900. In 2015, the winner received $1,470,000. If the winner’s purse continues to increase at the same interest rate, how much will the winner receive in 2051? (Assume annual compounding.)

Your firm has net income of $387 on total sales of $1,360. Costs are $750 and depreciation is $120. The tax rate is 21 percent. The firm does not have interest expenses. What is the operating cash flow?