Problem 3-16 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	$20		Accounts payable	$150
Accounts receivable	520		Accruals	260
Inventories	860		Notes payable	210
Total current assets	$1,400		Total current liabilities	$620
Net plant and equipment	2,360		Long-term bonds	1,480
			Total liabilities	$2,100
			Common stock (100 million shares)	260
			Retained earnings	1,400
			Common equity	$1,660
Total assets	$3,760		Total liabilities and equity	$3,760

Davidson Corporation: Income Statement for Year Ending December 31, 2016
(Millions of Dollars)
Sales	$8,750
Operating costs excluding depreciation and amortization	4,112.5
EBITDA	$4,637.5
Depreciation and amortization	525
EBIT	$4,112.5
Interest	168
EBT	$3,944.5
Taxes (40%)	1,577.8
Net income	$2,366.7
Common dividends paid	$1,183.35
Earnings per share	$23.667

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.

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