Question 22 2 pts Given are the financial statements for ACME Corporation, ACME has 10,000 shares of stock outstanding. Its price to earnings (PE) ratio for 2010 is 6. What is the market price per share of stock? Income Statement: 12/31/2010 Sales $1,300,000 Cost of Goods 750,000 Sold Operating 200.000 Expenses Depreciation 100,000 Expense EBIT 250,000 Interest Expense 50,000 EBT 200,000 Taxes 80,000 Net Income $120,000 Balance Sheets 12/31/2010 $50,000 Current Assets GrossFixed Assets 12/31/2009 $45,000 650.000 Balance Sheets 12/31/2010 Current Assets $50,000 Gross Fixed Assets 880,000 Less Accumulated Depreciation 450,000 Fixed Assets 430,000 Total Assets $480,000 12/31/2009 $45,000 650,000 350,000 350,000 $395,000 Current Liabilities Long-term Debt Common Stock $35.000 330,000 5,000 $50.000 270,000 5.000 70,000 $395,000 Retained Earnings Total Liabilities & Equity 110,000 $480,000 $57 564 $72 $85