Answered

Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

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 appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.