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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2019 2018 Assets Cash and equivalents
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here.
Balance Sheets as of December 31 | |||
2019 | 2018 | ||
Assets | |||
Cash and equivalents | $ 13,000 | $ 11,000 | |
Accounts receivable | 35,000 | 30,000 | |
Inventories | 30,380 | 26,000 | |
Total current assets | $ 78,380 | $ 67,000 | |
Net plant and equipment | 46,000 | 45,000 | |
Total assets | $124,380 | $112,000 | |
Liabilities and Equity | |||
Accounts payable | $ 10,300 | $ 8,000 | |
Accruals | 7,700 | 6,000 | |
Notes payable | 6,300 | 5,050 | |
Total current liabilities | $ 24,300 | $ 19,050 | |
Long-term bonds | 15,000 | 15,000 | |
Total liabilities | $ 39,300 | $ 34,050 | |
Common stock (4,000 shares) | 40,000 | 40,000 | |
Retained earnings | 45,080 | 37,950 | |
Common equity | $ 85,080 | $ 77,950 | |
Total liabilities and equity | $124,380 | $112,000 |
Income Statement for Year Ending December 31, 2019 | |
Sales | $237,000 |
Operating costs excluding depreciation and amortization | 190,000 |
EBITDA | $ 47,000 |
Depreciation & amortization | 8,000 |
EBIT | $ 39,000 |
Interest | 950 |
EBT | $ 38,050 |
Taxes (25%) | 9,512.50 |
Net income | $ 28,537.50 |
Dividends paid | 21,407.50 |
Construct Arlington's 2019 statement of stockholders' equity.
Statement of Stockholders' Equity, 2019 | |||||
Common Stock | Retained Earnings | Total Stockholders' Equity | |||
Shares | Amount | ||||
Balances, 12/31/18 | million | $ million | $ million | $ million | |
2019 Net Income | million | ||||
Cash Dividends | million | ||||
Addition to retained earnings | million | ||||
Balances, 12/31/19 | million | $ million | $ million | $ million |
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