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Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,650 Cost of goods sold 7,250 Depreciation 300 Earnings before interest and taxes $
Windswept, Inc. 2017 Income Statement ($ in millions) | |||
Net sales | $ | 8,650 | |
Cost of goods sold | 7,250 | ||
Depreciation | 300 | ||
Earnings before interest and taxes | $ | 1,100 | |
Interest paid | 70 | ||
Taxable income | $ | 1,030 | |
Taxes | 309 | ||
Net income | $ | 721 | |
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 140 | $ | 155 | Accounts payable | $ | 1,160 | $ | 1,302 | ||||
Accounts rec. | 900 | 710 | Long-term debt | 940 | 1,118 | ||||||||
Inventory | 1,500 | 1,520 | Common stock | 3,190 | 2,890 | ||||||||
Total | $ | 2,540 | $ | 2,385 | Retained earnings | 450 | 725 | ||||||
Net fixed assets | 3,200 | 3,650 | |||||||||||
Total assets | $ | 5,740 | $ | 6,035 | Total liab. & equity | $ | 5,740 | $ | 6,035 | ||||
Windswept, Inc., has 250 million shares of stock outstanding. Its priceearnings ratio for 2017 is 15. What is the market price per share of stock?
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