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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
| Windswept, Inc. 2010 Income Statement ($ in millions) | |
| Net sales | $ 9,850 |
| Less: Cost of goods sold | 8,090 |
| Less: Depreciation |
485 |
| Earnings before interest and taxes | $ 1,275 |
| Less: Interest paid |
118 |
| Taxable Income | $ 1,157 |
| Less: Taxes |
405 |
| Net income |
$ 752 |
| Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
| Â |
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 |
1) What is the days' sales in receivables? (use 2010 values)
2) 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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