1. You are given the following information: Stockholders' equity = $317 million; price/earnings ratio = 22; shares outstanding = 9,370,000; and market/book ratio =3.97. Calculate the market price of a share of the company's stock
2. In its recent income statement, Smith Software Inc. reported paying $13 million in dividends to common shareholders, and in its year-end balance sheet, Smith reported $325 million of retained earnings. The previous year, its balance sheet showed $316 million of retained earnings. What was the firm's net income during the most recent year? (Answers are in $ millions.)