Question
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before
Use the following information to answer this question. Windswept, Incorporated 2022 Income Statement (in millions) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income" Taxes Net income $ 8,850 7,350 310 $ 1,190 74 $1,116 335 $ 781 Windswept, Incorporated 2021 and 2022 Balance Sheets (in millions) Cash Accounts receivable Inventory Total 2021 $ 160 940 2022 $ 175. Accounts payable 1,540 1,540 $ 2,640 Net fixed assets 3,240 $ 2,555 3,710 840 Long-term debt Common stock Retained earnings Total assets Total liabilities & equity 2021 $ 1,220 2022 $1,497 960 1,138 3,230 470 2,910 720 $ 5,880 $ 6,265 $ 5,880 $6,265 Windswept, Incorporated, has 310 million shares of stock outstanding. Its price-earnings ratio for 2022 is 20. What is the market price per share of stock?
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