Question

FINANCIAL STATEMENTS The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance...

FINANCIAL STATEMENTS

The Davidson Corporation's balance sheet and income statement are provided here.

Davidson Corporation: Balance Sheet as of December 31, 2016
(Millions of Dollars)
Assets Liabilities and Equity
Cash and equivalents $20    Accounts payable $130
Accounts receivable 545    Accruals 230
Inventories 860    Notes payable 235
  Total current assets $1,425      Total current liabilities $595
Net plant and equipment 2,330    Long-term bonds 1,480
     Total liabilities $2,075
   Common stock (100 million shares) 280
   Retained earnings 1,400
     Common equity $1,680
Total assets $3,755    Total liabilities and equity $3,755
Davidson Corporation: Income Statement for Year Ending December 31, 2016
(Millions of Dollars)
Sales $6,750
Operating costs excluding depreciation and amortization 3,037.5
EBITDA $3,712.5
Depreciation and amortization 472.5
EBIT $3,240
Interest 249
EBT $2,991
Taxes (40%) 1,196.4
Net income $1,794.6
Common dividends paid $951.138
Earnings per share $17.946
  1. Construct the statement of stockholders' equity for December 31, 2016. No common stock was issued during 2016. 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, 12/31/15    $   $   $  
    2016 Net income   
    Cash dividends   
    Addition to RE   
    Balances, 12/31/16    $   $   $  

    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
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as...
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 $ 130 Accounts receivable 535    Accruals 280 Inventories 920    Notes payable 210   Total current assets $ 1,465      Total current liabilities $ 620 Net plant and equipment 2,335    Long-term bonds 1,510      Total liabilities $ 2,130    Common stock (100 million shares)...
The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as...
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 $ 20    Accounts payable $ 130 Accounts receivable 515    Accruals 320 Inventories 830    Notes payable 240   Total current assets $ 1,365      Total current liabilities $ 690 Net plant and equipment 2,685    Long-term bonds 1,500      Total liabilities $ 2,190    Common stock (100 million shares)...
eBook The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet...
eBook 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...
FREE CASH FLOW Arlington Corporation's financial statements (dollars and shares are in millions) are provided here....
FREE CASH FLOW Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as of December 31 2016 2015 Assets Cash and equivalents $  14,000 $  11,000 Accounts receivable 25,000 20,000 Inventories 21,520 19,000   Total current assets $ 60,520 $ 50,000 Net plant and equipment 51,000 49,000 Total assets $111,520 $99,000 Liabilities and Equity Accounts payable $ 10,600 $  9,500 Accruals 7,000 5,000 Notes payable 6,900 5,300   Total current liabilities $ 24,500 $ 19,800 Long-term bonds 10,000 10,000...
Bailey Corporation's financial statements (dollars and shares are in millions) are provided here. Bailey Corporation (in...
Bailey Corporation's financial statements (dollars and shares are in millions) are provided here. Bailey Corporation (in million of dollars) Balance Sheets as of December 31 2016 2015 Assets Cash and cash equivalents $     14,000 $       13,000 Accounts receivable         30,000            25,000 Inventories         28,125            21,000 Total current assets $     72,125 $       59,000 Net fixed assets         50,000            47,000 Total assets $   122,125 $     106,000 Liabilities and equity Accounts payable $     10,800 $          9,000 Notes payable            6,700...
Income Statement, Retained Earnings Statement, and Balance Sheet The following financial data were adapted from a...
Income Statement, Retained Earnings Statement, and Balance Sheet The following financial data were adapted from a recent annual report of Target Corporation for the year ending January 31. In millions Accounts payable $13,714 Cash 1,588 Common stock 5,724 Cost of goods sold 95,720 Debt and other borrowings 34,966 Income tax expense 3,054 Interest expense 1,732 Inventories 15,836 Other assets 5,684 Other expenses 5,154 Other liabilities 12,938 Property, plant, and equipment 58,298 Sales 136,932 Selling, general, and administrative expenses 28,212 Instructions:...
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as...
Use the balance sheet and income statement below : CLANCY’S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2015 and 2014 (in millions of dollars) Assets 2015 2014 Liabilities and Equity 2015 2014 Current assets: Current liabilities: Cash and marketable securities $ 8 $ 8 Accrued wages and taxes $ 13 $ 7 Accounts receivable 38 30 Accounts payable 27 25 Inventory 41 35 Notes payable 25 23 Total $ 87 $ 73 Total $ 65 $ 55 Fixed...
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year...
Financial information for Powell Panther Corporation is shown below: Powell Panther Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2016 2015 Sales $2,875.0 $2,300.0 Operating costs excluding depreciation and amortization 2,156.0 1,955.0 EBITDA $719.0 $345.0 Depreciation and amortization 74.0 64.0 Earnings before interest and taxes (EBIT) $645.0 $281.0   Interest 63.0 51.0 Earnings before taxes (EBT) $582.0 $230.0   Taxes (40%) 232.8 92.0 Net income $349.2 $138.0 Common dividends $314.0 $110.0 Powell Panther Corporation: Balance Sheets as of December...
Refer to the following financial statements for Crosby Corporation:       CROSBY CORPORATION Income Statement For the...
Refer to the following financial statements for Crosby Corporation:       CROSBY CORPORATION Income Statement For the Year Ended December 31, 20X2 Sales $ 3,860,000 Cost of goods sold 2,330,000 Gross profit $ 1,530,000 Selling and administrative expense 744,000 Depreciation expense 279,000 Operating income $ 507,000 Interest expense 81,000 Earnings before taxes $ 426,000 Taxes 198,000 Earnings after taxes $ 228,000 Preferred stock dividends 10,000 Earnings available to common stockholders $ 218,000 Shares outstanding 150,000 Earnings per share $ 1.45   ...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position...
Hyrkas Corporation's most recent balance sheet and income statement appear below:        Statement of Financial Position December 31, Year 2 and Year 1 (in thousands of dollars) Year 2 Year 1   Asset:   Current assets:   Cash $ 100 $ 110   Accounts receivable 210 220   Inventory 110 100   Prepaid expenses 15 15   Total current assets 435 445   Plant and equipment, net 890 870   Total assets $ 1,325 $ 1,315   Liabilities and stockholders' equity:   Current liabilities:   Accounts payable $ 160 $ 150   Accrued...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT