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Use the following information to answer this question. Windswept, Inc. 2015 Income Statement ($ in millions) Net sales $ 10,250 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2015 Income Statement ($ in millions)
Net sales $ 10,250
Less: Cost of goods sold 8,050
Less: Depreciation

380

Earnings before interest and taxes $ 1,820
Less: Interest paid

104

Taxable Income $ 1,716
Less: Taxes

515

Net income

$ 1,201

Windswept, Inc. 2014 and 2015 Balance Sheets ($ in millions)

2014

2015

2014

2015

Cash $ 300 $ 325 Accounts payable $ 1,630 $ 1,937
Accounts rec. 1,150 1,050 Long-term debt 1,090 1,278
Inventory

1,820

1,680

Common stock $ 3,400 $ 3,050
Total $ 3,270 $ 3,055 Retained earnings

670

920

Net fixed assets

3,520

4,130

Total assets

$ 6,790

$ 7,185

Total liab. & equity

$ 6,790

$ 7,185

Windswept, Inc. has 570 million shares of stock outstanding. Its price-earnings ratio for 2015 is 15. What is the market price per share of stock?

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