Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2021 (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, 2021 (millions of dollars) Assets Liabilities and Equity Cash and equivalents $ 20 Accounts payable $ 100 Accounts receivable 515 Accruals 310 Inventories 920 Notes payable 235 Total current assets $ 1,455 Total current liabilities $ 645 Net plant and equipment 2,460 Long-term bonds 1,520 Total liabilities $ 2,165 Common stock (100 million shares) 250 Retained earnings $ 1,500 Common equity $ 1,750 Total assets $ 3,915 Total liabilities and equity $ 3,915 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 6,000 Operating costs excluding depreciation and amortization 4,820 EBITDA $ 1,180 Depreciation and amortization 320 EBIT $ 860 Interest 220 EBT $ 640 Taxes (25%) 160 Net income $ 480 Common dividends paid $ 205 Earnings per share $ 4.80 Construct the statement of stockholders' equity for December 31, 2021. No common stock was issued during 2021. 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Theory Of Constraints Handbook

Authors: James Cox, John Schleier

1st Edition

0071665544, 978-0071665544

More Books

Students also viewed these Finance questions

Question

1. Identify three communication approaches to identity.

Answered: 1 week ago

Question

d. Who are important leaders and heroes of the group?

Answered: 1 week ago

Question

3. Describe phases of minority identity development.

Answered: 1 week ago