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Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,050 Less: Cost of goods sold 7,450 Less: Depreciation 320 Earnings before interest and

Windswept, Inc. 2010 Income Statement ($ in millions)
Net sales $ 9,050
Less: Cost of goods sold 7,450
Less: Depreciation

320

Earnings before interest and taxes $ 1,280
Less: Interest paid

78

Taxable Income $ 1,202
Less: Taxes

361

Net income

$ 841

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

2009

2010

2009

2010

Cash $ 180 $ 195 Accounts payable $ 1,280 $ 1,577
Accounts rec. 980 880 Long-term debt 980 1,158
Inventory

1,580

1,560

Common stock $ 3,270 $ 2,930
Total $ 2,740 $ 2,635 Retained earnings

490

740

Net fixed assets

3,280

3,770

Total assets

$ 6,020

$ 6,405

Total liab. & equity

$ 6,020

$ 6,405

Windswept, Inc. has 330 million shares of stock outstanding. Its price-earnings ratio for 2010 is 24. What is the market price per share of stock?

$93.09
$53.82
$61.16
$25.48
$35.64

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