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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 $ 10 Accounts payable $ 110
Accounts receivable 490 Accruals 220
Inventories 920 Notes payable 215
Total current assets $ 1,420 Total current liabilities $ 545
Net plant and equipment 2,285 Long-term bonds 1,480
Total liabilities $ 2,025
Common stock (100 million shares) 280
Retained earnings $ 1,400
Common equity $ 1,680
Total assets $ 3,705 Total liabilities and equity $ 3,705

Davidson Corporation: Income Statement for Year Ending
December 31, 2021 (millions of dollars)
Sales $ 5,250
Operating costs excluding depreciation and amortization 3,910
EBITDA $ 1,340
Depreciation and amortization 280
EBIT $ 1,060
Interest 240
EBT $ 820
Taxes (25%) 205
Net income $ 615
Common dividends paid $ 232
Earnings per share $ 6.15

  1. 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.

    Common Stock Retained Total Stockholders'
    Shares Amount Earnings Equity
    Balances, 12/31/20 $ $ $
    2021 Net income
    Cash dividends
    Addition to RE
    Balances, 12/31/21 $ $ $

    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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