Financial Statements

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

Davidson Corporation: Balance Sheet as of December 31, 2014 (Millions of Dollars)

Assets			Liabilities and Equity
Cash and equivalents	$20		Accounts payable	$120
Accounts receivable	585		Notes payable	210
Inventories	830		Accruals	220
Total current assets	$1,435		Total current liabilities	$550
Net plant and equipment	2,345		Long-term bonds	1,490
			Total debt	$2,040
			Common stock (100 million shares)	240
			Retained earnings	1,500
			Common equity	$1,740
Total assets	$3,780		Total liabilities and equity	$3,780

Davidson Corporation: Income Statement for Year Ending December 31, 2014 (Millions of Dollars)

Sales	$8,500
Operating costs excluding depreciation and amortization	7,140
EBITDA	$1,360
Depreciation and amortization	255
EBIT	$1,105
Interest	204
EBT	$901
Taxes (40%)	360.4
Net income	$540.6
Common dividends paid	$327.063
Earnings per share	$5.406

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

Construct the statement of stockholders' equity for December 31, 2014. No common stock was issued during 2014. 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, 12/31/13		$	$	$
	2014 Net income			$
	Cash dividends			$
	Addition to RE				$
	Balances, 12/31/14		$	$	$