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 $ 20 Accounts payable $ 100 Accounts receivable 560 Accruals 220 Inventories 820 Notes payable 210 Total current assets $ 1,400 Total current liabilities $ 530 Net plant and equipment 2,320 Long-term bonds 1,510 Total liabilities $ 2,040 Common stock (100 million shares) 280 Retained earnings $ 1,400 Common equity $ 1,680 Total assets $ 3,720 Total liabilities and equity $ 3,720 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 5,500 Operating costs excluding depreciation and amortization 4,140 EBITDA $ 1,360 Depreciation and amortization 280 EBIT $ 1,080 Interest 140 EBT $ 940 Taxes (25%) 235 Net income $ 705 Common dividends paid $ 328 Earnings per share $ 7.05