Hello,

I need a help with the following questions in the table. I did my own calculations to find out Market Value and Market- to- Book ratio for these two companies, but the numbers dont look right to me. Please, let me know where is the mistakes in the calculations and show the correct calculation.

Question: Complete the table below for each company. You can determine the number of shares outstanding from the balance sheet of J.C. Penney Company Inc. and Kohls Corporation. Make sure you are using outstanding shares of stock which can be determined by referencing the balance sheet. Outstanding number of shares =Number of shares issued less number of shares of treasury stock. You can obtain the stock price on the last day of the fiscal year we are reviewing if it is not a weekend. Make sure you pick up the closing price for February 1, 2019 for both companies, since February 2, 2019 was Saturday so the closing date must come from Friday, February 1, 2019. You can access the closing prices by going to the Market Watch Website for Historical Stock prices. http://www.marketwatch.com/tools/quotes/historical.asp

Additional Information: J.C. Penneys Total Assets: $7,721 million, Total Liabilities: $6,551 million, Total Equity: $1,170 million. The 1.25 billion shares of common stock are authorized with a par value of $0.50 per share. The total shares issued and outstanding were 316.1 million and 312.0 million as of February 2, 2019 and February 3, 2018, respectively.

Kohls total Assets: $12,469 million, Total Liabilities: $6,942 million, Total Equity: $5,527.

Stockholders Equity; Common stock - 374 and 373 million shares issued, Treasury stock, at cost, 211 and 205 million shares.

My answer is below:

	Book value, which is total equity applicable to the stockholders of the company	Market value-show your calculation, which is Closing price times number of shares outstanding. If outstanding shares are not provided you will need to calculate outstanding shares=issued less treasury stock.	Market-to-Book ratio show your calculation which is market value/book value
J.C. Penney Company Inc.	$1,170	Closing price: $1.32 Outstanding shares: 316.1 million of shares MV=$1.32*316.1=$417,252	Market-to-Book ratio: $417,252/$1,170=0.3
Kohls Corporation Inc.	$5,527	Closing price: $66.69. Common stock shares issued: 374 million. Treasury stock:211 million. Outstanding shares=374-211=163. MV=$66.69*163=$10,870million	Market-to-Book ratio=$10,870/$5,527=1.9