100 260 210 Davidson Corporation: Balance Sheet as of December 31, 2019 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 10 Accounts payable Accounts receivable 520 Accruals Inventories 840 Notes payable Total current assets $ 1,370 Total current liabilities Net plant and equipment 2,540 Long-term bonds Total liabilities Common stock (100 million shares) Retained earnings Common equity Total assets $ 3,910 Total liabilities and equity $ 570 1,500 $ 2,070 240 $ 1,600 $ 1,840 $ 3,910 Davidson Corporation: Income Statement for Year Ending December 31, 2019 (Millions of dollars) Sales Operating costs excluding depreciation and amortization $ 7,000 4,720 $ 2,280 180 EBITDA Depreciation and amortization EBIT $ 2,100 Interest 240 $ 1,860 Taxes (25%) 465 Net income $ 1,395 Common dividends paid Earnings per share $ 533 $ 13.95 Sales $ 7,000 4,720 Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization $ 2,280 180 EBIT $ 2,100 Interest 240 EBT $ 1,860 465 Taxes (25%) Net income $ 1,395 $ 533 Common dividends paid Earnings per share 13.95 a. Construct the statement of stockholders' equity for December 31, 2019. No common stock was issued during 2019. Write out all your answers completely. For example, 25 million should be entered as 25,000,000. Round your answers to the nearest share or dollar. Common Stock Retained Total Stockholders' Shares Amount Earnings Equity Balances, 12/31/18 2019 Net income Cash dividends Addition to RE Balances, 12/31/19 $ $ Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25. b. How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. $ million c. At the present time, how large a check could be written without it bouncing? Round your answer to the nearest hundredth of million, if necessary. $ million d. How much money must be paid to current creditors within the next year? Round your answer to the nearest hundredth of million, if necessary. $ million