The priceearnings ratio of Company X in 2016 is 20.

Please calculate the market price per share for Company X

Please see below the financial statements of Company X. Also, we know that the number shares outstanding for Company X is 310 million. Company X 2016 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $8,850 7,350 310 $1,190 74 $1,116 335 $ 781 Cash Accounts rec. Inventory Total Net fixed assets Total assets Company X 2015 and 2016 Balance Sheets ($ in millions) 2015 2016 $ 160 $ 175 Accounts payable 940 840 Long-term debt 1,540 1,540 Common stock $2,640 $2,555 Retained earnings 3,240 3,710 $5,880 $6,265 Total liab. & equity 2015 2016 $1,220 $1,497 960 1,138 3,230 2,910 470 720 $5,880 $6,265