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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,650 Cost of goods sold 7,750
Use the following information to answer this question.
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 9,650 | |
Cost of goods sold | 7,750 | ||
Depreciation | 350 | ||
Earnings before interest and taxes | $ | 1,550 | |
Interest paid | 92 | ||
Taxable income | $ | 1,458 | |
Taxes | 437 | ||
Net income | $ | 1,021 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 240 | $ | 255 | Accounts payable | $ | 1,450 | $ | 1,687 | ||||
Accounts rec. | 1,030 | 930 | Long-term debt | 1,030 | 1,218 | ||||||||
Inventory | 1,700 | 1,620 | Common stock | 3,280 | 2,990 | ||||||||
Total | $ | 2,970 | $ | 2,805 | Retained earnings | 610 | 860 | ||||||
Net fixed assets | 3,400 | 3,950 | |||||||||||
Total assets | $ | 6,370 | $ | 6,755 | Total liab. & equity | $ | 6,370 | $ | 6,755 | ||||
Windswept, Inc., has 510 million shares of stock outstanding. Its priceearnings ratio for 2017 is 20. What is the market price per share of stock?
Choices:
$33.73
$40.04
$20.02
$60.78
$23.92
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