Question
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
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 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
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