(Market value analysis) Lei Materials' balance sheet lists total assets of $1.36 billion, $108 million in current liabilities, $488 million in long-term debt, $764 million in common equity, and 50 million shares of common stock. If Lei's current stock price is $51.69, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places)

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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(Market value analysis) Lei Materials' balance sheet lists total assets of $1.36 billion, $108 million in current liabilities, $488 million in long-term debt, $764 million in
common equity, and 50 million shares of common stock. If Lei's current stock price is $51.69, what is the firm's market-to-book ratio?
The market-to-book ratio is (Round to two decimal places)
Transcribed Image Text:(Market value analysis) Lei Materials' balance sheet lists total assets of $1.36 billion, $108 million in current liabilities, $488 million in long-term debt, $764 million in common equity, and 50 million shares of common stock. If Lei's current stock price is $51.69, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places)
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