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The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2019 (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, 2019
(Millions of Dollars)
Assets Liabilities and Equity
Cash and equivalents $ 15 Accounts payable $ 130
Accounts receivable 530 Accruals 240
Inventories 830 Notes payable 220
Total current assets $ 1,375 Total current liabilities $ 590
Net plant and equipment 2,345 Long-term bonds 1,480
Total liabilities $ 2,070
Common stock (100 million shares) 250
Retained earnings $ 1,400
Common equity $ 1,650
Total assets $ 3,720 Total liabilities and equity $ 3,720

Davidson Corporation: Income Statement for Year Ending
December 31, 2019 (Millions of Dollars)
Sales $ 5,500
Operating costs excluding depreciation and amortization 3,610
EBITDA $ 1,890
Depreciation and amortization 260
EBIT $ 1,630
Interest 150
EBT $ 1,480
Taxes (25%) 370
Net income $ 1,110
Common dividends paid $ 487
Earnings per share $ 11.10

  1. Construct the statement of stockholders' equity for December 31, 2019. No common stock was issued during 2019. 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, 12/31/18 $ $ $
    2019 Net income
    Cash dividends
    Addition to RE
    Balances, 12/31/19 $ $ $

    Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25.

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

    $ million

  3. 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

  4. 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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