TA 1.40 2. The following balance sheet and thefke statement should be used. If the firm is currently carrying a price/earnings ratio of 2, what is the firm's approximate market price per share? A $8 B. $11 C $56 D. $78 E. $129 2018 Statement of comprehensive income (S in millions) Sales $8,800 Less: Costs 5,600 Depreciation 900 2,300 Less: Interest 350 EBT 1,950 Less: Taxes 550 Net Income 1,400 Dividends 900 Addition to ret. Earnings 500 Cash Accounts rec. Inventory Current assets Fixed assets Statement of financial position (S in millions) 2017 2018 $170 $110 Accounts payable 500 700 Notes payable 1,240 1,000 Current liabilities 1,910 1,810 Long-term debt 3,500 Common stock (50 shares) Retained earnings $3,910 $5,310 Total liab. & equity 2017 $135 1,200 1,335 2,005 100 470 $3,910 2018 $120 1,400 1,520 2,620 200 970 $5,310 Total assets