Use the following information to solve Questions 33 (current) thru 38 :

Currently, Southern Foods has sales of $1.32 million, net profit of $521,400, and 125,000 shares of stock outstanding. The sales and net profit are each expected to grow by 6 percent annually.

33 - Question: The historical (5-yr avg) P/S (price-to-sales) ratio is 7.8. What is the expected price of this stock one year from now? (Round your answer to 2 decimal places).

34 - Question: We used a historical average P/S ratio to estimate the price one year from now in question 33. However, the current trailing twelve months (TTM) P/S ratio is 8.69.

35 - Based on the current P/S ratio, what is the current market price (P0) of the stock?Again, using the current P/S ratio of 8.69 (based on what the market is currently willing to pay for one dollar's worth of sales), what is the expected price (P1) of the stock one year from now?

36- Based on the current market price (P0) you calculated in Question 34, what is the current P/E ratio for Southern Foods? (Round your answer to 1 decimal place.)

37- Given the historical (5-yr avg) P/E ratio is 18.5, what is the expected price (P1) of this stock one year from now? (Note: the answer does not have to equal the expected price found in question 35.) (Round your answer to 2 decimal places)

38- Southern Foods reported return on equity (ROE) of 12.0% for the last fiscal year. Also, they just paid a dividend of $2.50 per share. Using the firm's sustainable growth rate in earnings and the historical P/E ratio from Question 37, what is the expected price of this stock one year from now?