Question
Assets 2006 2005 Liabilities and Stockholders' Equity 2006 2005 Current Assets Current Liabilities Cash 52.3 58.5 Accounts payable 84.9 73.5 Accounts receivable 56 39.6 Notes
Assets | 2006 | 2005 | Liabilities and Stockholders' Equity | 2006 | 2005 |
Current Assets | Current Liabilities | ||||
Cash | 52.3 | 58.5 | Accounts payable | 84.9 | 73.5 |
Accounts receivable | 56 | 39.6 | Notes payable / short-term debt | 10.6 | 9.6 |
Inventories | 46.9 | 42.9 | Current maturities of long-term debt | 40.4 | 36.9 |
Other current assets | 5.7 | 3.0 | Other current liabilities | 6.0 | 12.0 |
Total current assets | 160.9 | 144.0 | Total current liabilities | 141.9 | 132.0 |
Long-Term Assets | Long-Term Liabilities | ||||
Land | 65.3 | 62.1 | Long-term debt | 228.5 | 168.9 |
Buildings | 108.6 | 91.5 | Capital lease obligations | ||
Equipment | 116.7 | 99.6 | |||
Less accumulated depreciation | (54.6) | (52.5) | Deferred taxes | 22.8 | 22.2 |
Net property, plant, and equipment | 236 | 200.7 | Other long-term liabilities | minusminusminus | minusminusminus |
Goodwill | 60.0 | minusminus | Total long-term liabilities | 251.3 | 191.1 |
Other long-term assets | 63.0 | 42.0 | Total liabilities | 393.2 | 323.1 |
Total long-term assets | 359 | 242.7 | Stockholders' Equity | 126.7 | 63.6 |
Total Assets | 519.9 | 386.7 | Total liabilities and Stockholders' Equity | 519.9 | 386.7 |
Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then what is Luther's enterprise value?
A.
minus$ 546.60
million
B.
$ 780.80
million
C.
$ 390.40
million
D.
$ 519.90
million
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