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	$15		Accounts payable	$150
Accounts receivable	470		Notes payable	230
Inventories	840		Accruals	300
Total current assets	$1,325		Total current liabilities	$680
Net plant and equipment	2,745		Long-term bonds	1,520
			Total debt	$2,200
			Common stock (100 million shares)	270
			Retained earnings	1,600
			Common equity	$1,870
Total assets	$4,070		Total liabilities and equity	$4,070

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

Sales	$5,000
Operating costs excluding depreciation and amortization	4,150
EBITDA	$850
Depreciation and amortization	300
EBIT	$550
Interest	198
EBT	$352
Taxes (40%)	140.8
Net income	$211.2
Common dividends paid	$48.576
Earnings per share	$2.112

1. 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		$	$	$

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. $ million 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 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