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The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2018 (Millions of Dollars) Assets Liabilities
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2018 (Millions of Dollars) Assets Liabilities and Equity Cash and $ 20 Accounts payable $ 120 equivalents Accounts 605 Accruals 300 receivable Inventories 830 Notes payable 240 Total current $ 1,455 Total current liabilities $ 660 assets Net plant and 2,495 Long-term bonds 1,520 equipment Total liabilities $ 2,180 Common stock (100 270 million shares) Retained earnings $1,500 Common equity $1,770 Total assets $3,950 Total liabilities and $ 3,950 equity Davidson Corporation: Income Statement for Year Ending December 31, 2018 (Millions of Dollars) Sales $ 5,250 Operating costs excluding depreciation and 3,517.5 amortization EBITDA $ 1,732.5 Depreciation and amortization 315 EBIT $ 1.4175 Interest 218 $ 1,199.5 Taxes (40%) 479.8 Net income $ 719.7 Common dividends paid $510.987 Earnings per share $ 7.197 EBT a. Construct the statement of stockholders' equity for December 31, 2018. No common stock was issued during 2018. 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, 12/31/17 2018 Net income Cash dividends Addition to RE Balances, 12/31/18 Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25. b. How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. million c. 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 d. 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
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