The Davidson Corporation's balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet...
90.2K
Verified Solution
Question
Finance
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 610 Accruals 310 Inventories 810 Notes payable 210 Total current assets $ 1,440 Total current liabilities $ 620 Net plant and equipment 2,530 Long-term bonds 1,490 Total liabilities $ 2,110 Common stock (100 million shares) 260 Retained earnings $ 1,600 Common equity $ 1,860 Total assets $ 3,970 Total liabilities and equity $ 3,970 Davidson Corporation: Income Statement for Year Ending December 31, 2021 (millions of dollars) Sales $ 4,500 Operating costs excluding depreciation and amortization 3,590 EBITDA $ 910 Depreciation and amortization 280 EBIT $ 630 Interest 130 EBT $ 500 Taxes (25%) 125 Net income $ 375 Common dividends paid $ 180 Earnings per share $ 3.75 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 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. 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. 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
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.