Question Use the following information to answer this question. Windswept, Inc.2017 Income Statement($ in millions)Net sales$9,750 Cost of goods sold 7,800 Depreciation 355 Earnings before interest and taxes$1,595 Interest paid 94 Taxable income$1,501 Taxes 450 Net income$1,051    Windswept, Inc.2016 and 2017 Balance Sheets($ in millions)  2016  2017   2016  2017 Cash$250 $270 Accounts payable$1,480 $1,732 Accounts rec. 1,050  950 Long-term debt 1,040  1,228 Inventory 1,720  1,630 Common stock 3,300  3,000 Total$3,020 $2,850 Retained earnings 620  870 Net fixed assets 3,420  3,980        Total assets$6,440 $6,830 Total liab. & equity$6,440 $6,830   Windswept, Inc., has 520 million shares of stock outstanding. Its price–earnings ratio for 2017 is 20. What is the market price per share of stock?  

AVRANL The Asker · Finance

Use the following information to answer this question.
 

Windswept, Inc.
2017 Income Statement
($ in millions)
Net sales $ 9,750  
Cost of goods sold   7,800  
Depreciation   355  
Earnings before interest and taxes $ 1,595  
Interest paid   94  
Taxable income $ 1,501  
Taxes   450  
Net income $ 1,051  
 

  

Windswept, Inc.
2016 and 2017 Balance Sheets
($ in millions)
    2016     2017       2016     2017  
Cash $ 250   $ 270   Accounts payable $ 1,480   $ 1,732  
Accounts rec.   1,050     950   Long-term debt   1,040     1,228  
Inventory   1,720     1,630   Common stock   3,300     3,000  
Total $ 3,020   $ 2,850   Retained earnings   620     870  
Net fixed assets   3,420     3,980                
Total assets $ 6,440   $ 6,830   Total liab. & equity $ 6,440   $ 6,830  
 

 
Windswept, Inc., has 520 million shares of stock outstanding. Its price–earnings ratio for 2017 is 20. What is the market price per share of stock?  

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2HTSLJ

Step 1Given:Net income = $1,051 millionNumber of shares = 520 millionPrice - earning ratio = 20Step 2EPS = Net income / Number of sharesEPS = ... See the full answer