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Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes $9,550 7,700 345 $1,505 90 $1,415 425 Net income $ 990 Cash Accounts rec. Inventory Total Net fixed assets Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 $ 230 $ 245 Accounts payable 1,010 910 Long-term debt 1,680 1,610 Common stock $2,920 $2,765 Retained earnings 3,380 3,920 $6,300 $6,685 Total liab. & equity 2016 2017 $1,420 $1,647 1,020 1, 208 3,260 2,980 600 850 Total assets $6,300 $6,685 Windswept, Inc., has 500 million shares of stock outstanding. Its price-earnings ratio for 2017 is 16. What is the market price per share of stock? Multiple Choice O $48.16 O $27.20 O $31.68 $19.80 O $19.20 O
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