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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) 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) Liabilities and Equity Assets Cash and equivalents $ 15 Accounts payable Accounts receivable Inventories Total current assets 520 Accruals 910 Notes payable $ 1,445 Total current liabilities Net plant and equipment Total assets 2,320 Long-term bonds Total liabilities Common stock (100 million shares) Retained earnings Common equity $ 3,765 Total liabilities and equity Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (25%) Net income Common dividends paid Earnings per share $ 140 230 215 $ 585 1,520 $ 2,105 260 $ 1,400 $ 1,660 $ 3,765 $ 6,500 5,280 $ 1,220 $ a. 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. Balances, 12/31/20 2021 Net income Cash dividends Addition to RE Balances, 12/31/21 Common Stock Shares Amount $ $ Retained Earnings Total Stockholders' Equity 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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