Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $
Posted: Mon May 30, 2022 6:40 am
Use the following information to answer this question.
Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $
9,050 Cost of goods sold 7,450 Depreciation 320 Earnings before
interest and taxes $ 1,280 Interest paid 78 Taxable income $ 1,202
Taxes 361 Net income $ 841 Windswept, Inc. 2016 and 2017 Balance
Sheets ($ in millions) 2016 2017 2016 2017 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 2017 is 24. What is the
market price per share of stock?
Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $
9,050 Cost of goods sold 7,450 Depreciation 320 Earnings before
interest and taxes $ 1,280 Interest paid 78 Taxable income $ 1,202
Taxes 361 Net income $ 841 Windswept, Inc. 2016 and 2017 Balance
Sheets ($ in millions) 2016 2017 2016 2017 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 2017 is 24. What is the
market price per share of stock?