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The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2015 (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, 2015 (Millions of Dollars)
Assets | Liabilities and Equity | |||
Cash and equivalents | $15 | Accounts payable | $120 | |
Accounts receivable | 515 | Notes payable | 280 | |
Inventories | 880 | Accruals | 220 | |
Total current assets | $1,410 | Total current liabilities | $620 | |
Net plant and equipment | 2,590 | Long-term bonds | 1,520 | |
Total debt | $2,140 | |||
Common stock (100 million shares) | 260 | |||
Retained earnings | 1,600 | |||
Common equity | $1,860 | |||
Total assets | $4,000 | Total liabilities and equity | $4,000 |
Davidson Corporation: Income Statement for Year Ending December 31, 2015 (Millions of Dollars)
Sales | $6,250 |
Operating costs excluding depreciation and amortization | 5,230 |
EBITDA | $1,020 |
Depreciation and amortization | 220 |
EBIT | $800 |
Interest | 180 |
EBT | $620 |
Taxes (40%) | 248 |
Net income | $372 |
Common dividends paid | $146 |
Earnings per share | $3.72 |
Construct the statement of stockholders' equity for December 31, 2015. No common stock was issued during 2015. 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.
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