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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 and Equity
Cash and equivalents	$	20		Accounts payable	$	130
Accounts receivable		520		Accruals		260
Inventories		910		Notes payable		220
Total current assets	$	1,450		Total current liabilities	$	610
Net plant and equipment		2,330		Long-term bonds		1,510
				Total liabilities	$	2,120
				Common stock (100 million shares)		260
				Retained earnings	$	1,400
				Common equity	$	1,660
Total assets	$	3,780		Total liabilities and equity	$	3,780

Davidson Corporation: Income Statement for Year Ending
December 31, 2019 (Millions of Dollars)
Sales	$	9,000
Operating costs excluding depreciation and amortization		6,320
EBITDA	$	2,680
Depreciation and amortization		390
EBIT	$	2,290
Interest		150
EBT	$	2,140
Taxes (25%)		535
Net income	$	1,605
Common dividends paid	$	578
Earnings per share	$	16.05

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

Answer 1