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Business, 12.03.2020 22:55 Frankia

Windswept, Inc. 2017 Income Statement ($ in millions)

Net sales $9,700
Cost of goods sold 7,800
Depreciation 395
Earnings before interest and taxes $1,505
Interest paid 94 Taxable income $1,411
Taxes 494
Net income $917

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)
2009 2010 2009 2010
Cash $290 $320 Accounts payable $1,630 $1,885
Accounts rec. 1,120 1,020 Long-term debt 1,180 1,340
Inventory 2,000 1,775 Common stock $3,500 $3,080
Total $3,410 $3,115 Retained earnings 670 920
Net fixed assets 3,570 4,110
Total assets $6,980 $7,225 Total liab. & equity $6,980 $7,225

a. What is the days' sales in receivables? (use 2010 values)
b. Windswept, Inc. has 560 million shares of stock outstanding. Its price-earnings ratio for 2010 is 12. What is the market price per share of stock?

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Windswept, Inc. 2017 Income Statement ($ in millions)

Net sales $9,700
Cost of g...
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