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eBook The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2019 (Millions of Dollars) Assets
eBook The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2019 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 15 Accounts payable $ 100 Accounts receivable 580 Accruals 270 Inventories 880 Notes payable 215 Total current assets $ 1,475 Total current liabilities $ 585 Net plant and equipment 2,470 Long-term bonds 1,520 Total liabilities $ 2,105 Common stock (100 million shares) 240 Retained earnings $ 1,600 Common equity $ 1,840 Total assets $ 3,945 Total liabilities and equity $ 3,945 Davidson Corporation: Income Statement for Year Ending December 31, 2019 (Millions of Dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT $ 4,500 3,690 $ 810 240 $ 570 190 Interest EBT $ 380 95 Taxes (25%) Net Income $ 285 91 Common dividends paid Earnings per share $ $ 2.85 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
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