Use the following information to answer this question. windswept, inc. 2017 income statement ($ in millions) net sales $ 9,950 cost of goods sold 7,900 depreciation 365 earnings before interest and taxes $ 1,685 interest paid 98 taxable income $ 1,587 taxes 476 net income $ 1,111 windswept, inc. 2016 and 2017 balance sheets ($ in millions) 2016 2017 2016 2017 cash $ 270 $ 290 accounts payable $ 1,540 $ 1,812 accounts rec. 1,090 990 long-term debt 1,060 1,248 inventory 1,760 1,650 common stock 3,340 3,020 total $ 3,120 $ 2,930 retained earnings 640 890 net fixed assets 3,460 4,040 total assets $ 6,580 $ 6,970 total liab. & equity $ 6,580 $ 6,970 windswept, inc., has 540 million shares of stock outstanding. its price–earnings ratio for 2017 is 15. what is the market price per share of stock?

What is the market price per share of stock?

Market Price 2017   30,86  

Explanation:

Income Statement2017

Sales revenue  $ 9,950

Cost of goods sold  -$ 7,900

Depreciation  -$ 0,365

Income from Operations  $ 1,685

Interest expenses  -$ 0,098

Income before income taxes  $ 1,587

Income taxe expenses  -$ 0,476

NET INCOME  $ 1,111

Assets20162017

Cash  0,270   0,290  

Accounts Receivable  1,090   0,990  

Inventory  1,760   1,650    

Property and Equipment  3,460   4,040

TOTAL ASSETS   6,580   6,970  

Accounts Payable   1,540   1,812

Long Term Loan   1,060   1,248  

TOTAL LIABILITIES   2,600   3,060  

Common Stock   3,340   3,020  

Retained Earnings   0,640   0,890  

TOTAL EQUITY   3,980   3,910  

TOTAL EQUITY + LIABILITIES   6,580   6,970  

Shares of stock outstanding   0,540  

Price–Earnings Ratio 2017   15  

Earnings/Share Ratio 2017   2,06  

Market Price Ratio 2017   30,86  

answer; possession utility;