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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 equivalents $ 15 Accounts payable $ 100
Accounts receivable 470 Accruals 250
Inventories 820 Notes payable 230
Total current assets $ 1,305 Total current liabilities $ 580
Net plant and equipment 2,645 Long-term bonds 1,520
Total liabilities $ 2,100
Common stock (100 million shares) 250
Retained earnings $ 1,600
Common equity $ 1,850
Total assets $ 3,950 Total liabilities and equity $ 3,950

Davidson Corporation: Income Statement for Year Ending
December 31, 2018 (Millions of Dollars)
Sales $ 6,750
Operating costs excluding depreciation and amortization 3,847.5
EBITDA $ 2,902.5
Depreciation and amortization 202.5
EBIT $ 2,700
Interest 189
EBT $ 2,511
Taxes (40%) 1,004.4
Net income $ 1,506.6
Common dividends paid $ 391.716
Earnings per share $ 15.066
  1. 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.

  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

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