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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,150 Less: Cost of goods sold

Use the following information to answer this question.
Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,150
Less: Cost of goods sold 7,500
Less: Depreciation

325

Earnings before interest and taxes $ 1,325
Less: Interest paid

80

Taxable Income $ 1,245
Less: Taxes

374

Net income

$ 871

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Cash $ 190 $ 205 Accounts payable $ 1,310 $ 1,617
Accounts rec. 1,000 900 Long-term debt 990 1,168
Inventory

1,600

1,570

Common stock $ 3,290 $ 2,940
Total $ 2,790 $ 2,675 Retained earnings

500

750

Net fixed assets

3,300

3,800

Total assets

$ 6,090

$ 6,475

Total liab. & equity

$ 6,090

$ 6,475

Windswept, Inc. has 340 million shares of stock outstanding. Its price-earnings ratio for 2010 is 15. What is the market price per share of stock?

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