Question: Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) net sales $ 10,450 Less: cost of goods sold

Use the following information to answer this question.

Windswept, Inc. 2010 Income Statement ($ in millions)
net sales$ 10,450
Less: cost of goods sold8,150
Less: Depreciation

390

Earnings before interest and taxes$ 1,910
Less: Interest paid

108

taxable income$ 1,802
Less taxes

541

Net Income

$ 1,261

Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions)

2009

2010

2009

2010

Money$ 320$ 345Accounts payable$ 1,690$ 2,017
rec accounts1,1901,090long term debt1,1101,298
Inventory

1,860

1,700

Common actions$ 3,440$ 3,070
Total$ 3,370$ 3,135Retained earnings

690

940

net fixed assets

3,560

4,190

total assets

$ 6,930

$ 7,325

full liability & equity

$ 6,930

$ 7,325

Windswept, Inc. has 590 million shares outstanding. Its price-earnings ratio for 2010 is 20. What is the market price per share?

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