Financial Statements

The Davidson Corporation's balance sheet and income statement are provided here.

Davidson Corporation: Balance Sheet as of December 31, 2012 (Millions of Dollars)

Assets			Liabilities and Equity
Cash and equivalents	$20		Accounts payable	$100
Accounts receivable	600		Notes payable	210
Inventories	890		Accruals	240
Total current assets	$1,510		Total current liabilities	$550
Net plant and equipment	2,290		Long-term bonds	1,510
			Total debt	$2,060
			Common stock (100 million shares)	240
			Retained earnings	1,500
			Common equity	$1,740
Total assets	$3,800		Total liabilities and equity	$3,800

Davidson Corporation: Income Statement for Year Ending December 31, 2012 (Millions of Dollars)

Sales	$7,000
Operating costs excluding depreciation and amortization	3,150
EBITDA	$3,850
Depreciation and amortization	350
EBIT	$3,500
Interest	206
EBT	$3,294
Taxes (40%)	1,317.6
Net income	$1,976.4
Common dividends paid	$869.616
Earnings per share	$19.764

1. Construct the statement of stockholders' equity for December 31, 2012. No common stock was issued during 2012. 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, 12/31/11		$	$	$
   	2012 Net income			$
   	Cash dividends			$
   	Addition to RE				$
   	Balances, 12/31/12		$	$	$

Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25.

How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. $ millionAt the present time, how large a check could be written without it bouncing? Round your answer to the nearest hundredth of million, if necessary. $ millionHow much money must be paid to current creditors within the next year? Round your answer to the nearest hundredth of million, if necessary. $ million