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Question Description:

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The Davidson Corporation’s balance sheet and income statement are provided here. Davidson Corporation: Balance Sheet as of December 31, 2011 (Millions of Dollars) Assets Liabilities and Equity Cash and equivalents $20 Accounts payable $150 Accounts receivable 505 Notes payable 240 Inventories 860 Accruals 230 Total current assets $1,385 Total current liabilities $620 Net plant and equipment 2,355 Long-term bonds 1,480 Total debt $2,100 Common stock (100 million shares) 240 Retained earnings 1,400 Common equity $1,640 Total assets $3,740 Total liabilities and equity $3,740 Davidson Corporation: Income Statement for Year Ending December 31, 2011 (Millions of Dollars) Sales $7,750 Operating costs excluding depreciation and amortization 6,587.5 EBITDA $1,162.5 Depreciation and amortization 155 EBIT $1,007.5 Interest 252 EBT $755.5 Taxes (40%) 302.2 Net income $453.3 Common dividends paid $260.6475 Earnings per share $4.533 Write out your answer completely. For example, 13 million should be entered as 13,000,000. Construct the statement of stockholders’ equity for December 31, 2011. No common stock was issued during 2011. Round your answer to the nearest dollar. Common Stock Common Stock Retained Total Stockholders’ Shares Amount Earnings Equity Balances, 12/31/10 $ $ $ 2011 Net income $ Cash dividends $ Addition to RE $ Balances, 12/31/11 $ $ $ How much money has been reinvested in the firm over the years? Round your answer to the nearest hundredth of million, if necessary. $ 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. $ How much money must be paid to current creditors within the next year? Round your answer to the nearest hundredth of million, if necessary. $

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