FINANCIAL STATEMENTS

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

Davidson Corporation: Balance Sheet as of December 31, 2016
(Millions of Dollars)
Assets			Liabilities and Equity
Cash and equivalents	$10		Accounts payable	$140
Accounts receivable	495		Accruals	250
Inventories	920		Notes payable	230
Total current assets	$1,425		Total current liabilities	$620
Net plant and equipment	2,455		Long-term bonds	1,480
			Total liabilities	$2,100
			Common stock (100 million shares)	280
			Retained earnings	1,500
			Common equity	$1,780
Total assets	$3,880		Total liabilities and equity	$3,880

Davidson Corporation: Income Statement for Year Ending December 31, 2016
(Millions of Dollars)
Sales	$6,000
Operating costs excluding depreciation and amortization	3,000
EBITDA	$3,000
Depreciation and amortization	120
EBIT	$2,880
Interest	147
EBT	$2,733
Taxes (40%)	1,093.2
Net income	$1,639.8
Common dividends paid	$377.154
Earnings per share	$16.398

1. Construct the statement of stockholders' equity for December 31, 2016. No common stock was issued during 2016. 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, 12/31/15		$	$	$
   2016 Net income
   Cash dividends
   Addition to RE
   Balances, 12/31/16		$	$	$

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

2. How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. $ million
3. 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
4. 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