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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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