The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2018 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 10 Accounts payable $ 100 Accounts receivable 490 Accruals 210 Inventories 860 Notes payable 240 Total current assets $ 1,360 Total current liabilities $ 550 Net plant and equipment 2,490 Long-term bonds 1,520 Total liabilities $ 2,070 Common stock (100 million shares) 280 Retained earnings $ 1,500 Common equity $ 1,780 Total assets $ 3,850 Total liabilities and equity $ 3,850 $ Davidson Corporation: Income Statement for Year Ending December 31, 2018 (Millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (40%) Net income Common dividends paid $ Earnings per share 8,000 6,320 1,680 400 1,280 207 1,073 429.2 643.8 486.069 6.438 a. Construct the statement of stockholders' equity for December 31, 2018. No common stock was issued during 2018. 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, 12/31/17 $ $ 2018 Net income Cash dividends Addition to RE Balances, 12/31/18 $ Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25. b. How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. million c. 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 d. 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 The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2018 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $ 10 Accounts payable $ 100 Accounts receivable 490 Accruals 210 Inventories 860 Notes payable 240 Total current assets $ 1,360 Total current liabilities $ 550 Net plant and equipment 2,490 Long-term bonds 1,520 Total liabilities $ 2,070 Common stock (100 million shares) 280 Retained earnings $ 1,500 Common equity $ 1,780 Total assets $ 3,850 Total liabilities and equity $ 3,850 $ Davidson Corporation: Income Statement for Year Ending December 31, 2018 (Millions of dollars) Sales Operating costs excluding depreciation and amortization EBITDA Depreciation and amortization EBIT Interest EBT Taxes (40%) Net income Common dividends paid $ Earnings per share 8,000 6,320 1,680 400 1,280 207 1,073 429.2 643.8 486.069 6.438 a. Construct the statement of stockholders' equity for December 31, 2018. No common stock was issued during 2018. 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, 12/31/17 $ $ 2018 Net income Cash dividends Addition to RE Balances, 12/31/18 $ Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25. b. How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. million c. 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 d. 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
