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	$10		Accounts payable	$140
Accounts receivable	515		Accruals	320
Inventories	870		Notes payable	230
Total current assets	$1,395		Total current liabilities	$690
Net plant and equipment	2,645		Long-term bonds	1,510
			Total liabilities	$2,200
			Common stock (100 million shares)	240
			Retained earnings	1,600
			Common equity	$1,840
Total assets	$4,040		Total liabilities and equity	$4,040

Davidson Corporation: Income Statement for Year Ending December 31, 2016
(Millions of Dollars)
Sales	$4,500
Operating costs excluding depreciation and amortization	2,430
EBITDA	$2,070
Depreciation and amortization	315
EBIT	$1,755
Interest	264
EBT	$1,491
Taxes (40%)	596.4
Net income	$894.6
Common dividends paid	$621.747
Earnings per share	$8.946

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