18. The current market price of Orange stock is $95.99. Its earnings for 2020 was $6.19 while its earnings for 2021 is forecasted to be $6.31. What is its trailing P/E? A. 15.21 B. 15.51 C. 79.68 D. 5.02 Please use the following information to answer questions 19 to 22 Yahoo! Facebook Trading price on Monday, May 05, 2021 $35.79 $73.44 Dividend per share (DPS) $0.0 $0.0 EPS 2013 $1.17 $0.92 Shareholders' equity $18.346 billion $12.69199 billion No. of shares outstanding 1.01073 billion 2.57500 billion 19. What is Yahoo!'s P/E ratio? A. 79.83 B. 30.59 C. 23.75 D. None 20. What is Facebook's P/B (price-to-book) ratio? A. 4.00 B. 13.51 C. 10.31 D. 7.12 21. What is Yahoo!'s market capitalization? A. $36.17 billion D.$21.91 billion B. $189.11 billion C. $12.56 billion 22. Which company has the higher P/E ratio? A. Facebook B. Yahoo! 23. In 2020, a company's cash flow from operating and investing activities were $2,300 and $1,500 respectively. What was the company's free cash flow during the same year? A. $800 B. $3.800 C. $0 D. None 24. A company's current assets (excluding cash and cash equivalents) increased by $400; its current liabilities also increased by $250. What was the company's change in net working capital? A. $400 B. $650 C. $250 D. $150 25. Kimberly-Clark paid $2.60 per share in dividend in 2020. Its dividend are expected to grow at a constant rate of 3%. If your required return on Kimberly-Clark equity is 7%, how much would you value its stock using dividend discount model (DDM) at the beginning of 2021? A. $65.0 B. $66.95 C. $2.678 D. $37.14 26. Which of the following statements is not true? A. Positive earnings is a necessary but not a sufficient condition to yield positive residual earnings; B. If ROCE >r, residual earnings will be positive. C. If residual earnings grow, abnormal earnings growth (AEG) will be positive D. A positive AEG means Price-to-Book (P/B) ratio > 1