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Westkost [7]
2 years ago
15

Winston Watch's stock price is $70 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in cur

rent liabilities, $3 billion in long-term debt, and $6 billion in common equity. It has 400 million shares of common stock outstanding. What is Winston's market/book ratio? Do not round intermediate calculations. Round your answer to two decimal places.
Business
1 answer:
GarryVolchara [31]2 years ago
6 0

Answer:

The Market/book ratio is 5.67.

Explanation:

Book value per share = (common equity)/(number of shares)

                                    = ($ 6 billion)/($ 400million )

                                    = $ 15 per share

Market/book ratio = (market price per share)/(book value per share

                               = $75/$15

                               = 5.00

Therefore, the Market/book ratio is 5.67.

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