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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
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 $ 15 Accounts payable Accounts receivable 605 Accruals Inventories 870 Notes payable Total current assets $ 1,490 Total current liabilities Net plant and equipment 2,540 Long-term bonds Total assets $ 100 320 220 $ 640 1,520 Total liabilities Common stock (100 million shares) Retained earnings Common equity $ 2,160 270 $1,600 $ 1,870 $ 4,030 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 $ 4,030 6,000 4,990 1,010 320 $ 690 210 480 120 $ 360 144 3.60 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. Common Stock Balances, 12/31/20 2021 Net income Cash dividends Addition to RE Shares Retained Total Stockholders' Amount Earnings Equity $ $ 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. $ 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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