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	$	110
Accounts receivable		540		Accruals		310
Inventories		850		Notes payable		235
Total current assets	$	1,405		Total current liabilities	$	655
Net plant and equipment		2,590		Long-term bonds		1,490
				Total liabilities	$	2,145
				Common stock (100 million shares)		250
				Retained earnings	$	1,600
				Common equity	$	1,850
Total assets	$	3,995		Total liabilities and equity	$	3,995

 

Davidson Corporation: Income Statement for Year Ending
December 31, 2021 (millions of dollars)
Sales	$	6,250
Operating costs excluding depreciation and amortization		5,040
EBITDA	$	1,210
Depreciation and amortization		360
EBIT	$	850
Interest		150
EBT	$	700
Taxes (25%)		175
Net income	$	525
Common dividends paid	$	242
Earnings per share	$	5.25

 

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.

How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary.

$   million

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

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