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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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