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faust18 [17]
3 years ago
10

Strack Houseware Supplies, Inc. has $531 million in total assets. The other side of its balance sheet consists of $74.34 million

in current liabilities, $138.06 million in long-term debt, and $318.60 million in common equity. The company has 20,700,000 shares of common stock outstanding, and its stock price is $85.00 per share. What is Strack's market-to-book ratio?
Business
1 answer:
Greeley [361]3 years ago
5 0

Answer:

$5.52 (Approx)

Explanation:

Given that,

Total assets = $531 million

Current liabilities = $74.34 million

Long-term debt = $138.06 million

Common equity = $318.60 million

Shares of common stock outstanding = 20,700,000

stock price = $85.00 per share

Book value per share:

= common equity ÷ shares of common stock outstanding)

= $318,600,000 ÷ 20,700,000

= $15.3913043 (Approx)

Market to book ratio:

= Market value per share ÷ Book value per share

= $85 ÷ $15.3913043

= $5.52 (Approx)

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