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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) 270
   Retained earnings $ 1,400
     Common equity $ 1,670
Total assets $ 3,800    Total liabilities and equity $ 3,800
Davidson Corporation: Income Statement for Year Ending
December 31, 2018 (Millions of Dollars)
Sales $ 4,750
Operating costs excluding depreciation and amortization 2,375
EBITDA $ 2,375
Depreciation and amortization 142.5
EBIT $ 2,232.5
Interest 213
EBT $ 2,019.5
Taxes (40%) 807.8
Net income $ 1,211.7
Common dividends paid $ 333.2175
Earnings per share $ 12.117
  1. 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.

  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
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