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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 * $ 20 Accounts payable $ 120 Accounts receivable 510 Accruals 280 Inventories 810 Notes payable 210 Total current assets $ 1,370 Total current liabilities $ 610 Net plant and equipment 2,470 Long-term bonds 1.190 Total liabilities $ 2,100 Common stock (100 million shares) 210 Retained earnings $ 1,500 Common equity $ 1,740 $ 3,840 Total llabilities and equity Total assets $3,840 Davidson Corporation: Income Statement for Year Ending December 31, 2018 (Millions of dollars) Sales $ 4,100 Operating costs exduding depreciation and amortization 1,920 EBITDA $ 2,080 Depreciation and amortization 80 EBIT $ 2,000 Interest 252 CDT $ 1,748 Taxes (40%) 699.2 Net Income $ 1,048.6 Common dividends paid $ 697.452 Earnings per share $ 10.488 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 Camings Equity Balances, 12/31/17 S $ 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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