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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 10,350 Less: Cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 10,350
Less: Cost of goods sold 8,100
Less: Depreciation

385

Earnings before interest and taxes $ 1,865
Less: Interest paid

106

Taxable Income $ 1,759
Less: Taxes

528

Net income

$ 1,231

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

2009

2010

2009

2010

Cash $ 310 $ 335 Accounts payable $ 1,660 $ 1,977
Accounts rec. 1,170 1,070 Long-term debt 1,100 1,288
Inventory

1,840

1,690

Common stock $ 3,420 $ 3,060
Total $ 3,320 $ 3,095 Retained earnings

680

930

Net fixed assets

3,540

4,160

Total assets

$ 6,860

$ 7,255

Total liab. & equity

$ 6,860

$ 7,255

Windswept, Inc. has 580 million shares of stock outstanding. Its price-earnings ratio for 2010 is 16. What is the market price per share of stock?

$51.45

$21.22

$18.76

$25.66

$33.96

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