Answered: Windswept, Inc. has 8.5 million shares…

Windswept, Inc. has 8.5 million shares of stock outstanding. Its net income is $2.3 million. Its current price-earnings ratio is 7.3. What is the market price per share of stock?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 38MCQ

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Windswept, Inc. has 8.5 million shares of stock outstanding. Its net income is $2.3 million. Its current price-earnings ratio is 7.3. What is the market price per share of stock?

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