Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Connect with professionals on our platform to receive accurate answers to your questions quickly and efficiently. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Strack Houseware Supplies Inc. has $889 million in total assets. The other side of its balance sheet consists of $142.24 million in current liabilities, $257.81 million in long-term debt, and $488.95 million in common equity. The company has 29,400,000 shares of common stock outstanding, and its stock price is $88 per share. What is Strack's market-to-book ratio

Sagot :

ayokenny2001

Answer:

See below

Explanation:

Given the above information,

Market value = Common stock outstanding × Stock price

Market value = 29,400,000 × $88

Market value = $2,587,200,000

Common equity = $488.95 million

Then,

Market to book ratio = $2,587,200,000 / $488,095,000

Market to book ratio = 5.30

Therefore, Strack's market to book ratio is 5.30

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.