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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 | $10 | Accounts payable | $140 | |
| Accounts receivable | 495 | Accruals | 250 | |
| Inventories | 920 | Notes payable | 230 | |
| Total current assets | $1,425 | Total current liabilities | $620 | |
| Net plant and equipment | 2,455 | Long-term bonds | 1,480 | |
| Total liabilities | $2,100 | |||
| Common stock (100 million shares) | 280 | |||
| Retained earnings | 1,500 | |||
| Common equity | $1,780 | |||
| Total assets | $3,880 | Total liabilities and equity | $3,880 | |
| Davidson Corporation: Income Statement for Year Ending December 31, 2016 | |
| (Millions of Dollars) | |
| Sales | $6,000 |
| Operating costs excluding depreciation and amortization | 3,000 |
| EBITDA | $3,000 |
| Depreciation and amortization | 120 |
| EBIT | $2,880 |
| Interest | 147 |
| EBT | $2,733 |
| Taxes (40%) | 1,093.2 |
| Net income | $1,639.8 |
| Common dividends paid | $377.154 |
| Earnings per share | $16.398 |
- 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.
- How much money has been reinvested in the firm over the years?
Round your answer to the nearest hundredth of million, if
necessary.
$ million - 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 - 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
Solutions
Expert Solution
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Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 15,000
$ 11,000
Accounts receivable
25,000
20,000
Inventories
22,945
19,000
Total current assets
$ 62,945
$ 50,000
Net plant and equipment
50,000
47,000
Total assets
$112,945
$97,000
Liabilities and Equity
Accounts payable
$ 10,600
$ 8,500
Accruals
7,900
6,000
Notes payable
6,200
5,450
Total current liabilities
$ 24,700
$ 19,950
Long-term bonds
15,000
15,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 13,000
$ 11,000
Accounts receivable
35,000
30,000
Inventories
30,625
28,000
Total current assets
$ 78,625
$ 69,000
Net plant and equipment
51,000
46,000
Total assets
$129,625
$115,000
Liabilities and Equity
Accounts payable
$ 10,700
$ 8,000
Accruals
7,500
5,000
Notes payable
6,200
5,150
Total current liabilities
$ 24,400
$ 18,150
Long-term bonds
10,000
10,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 13,000
$ 11,000
Accounts receivable
25,000
20,000
Inventories
24,685
17,000
Total current assets
$ 62,685
$ 48,000
Net plant and equipment
49,000
47,000
Total assets
$111,685
$95,000
Liabilities and Equity
Accounts payable
$ 10,500
$ 9,500
Accruals
7,600
5,000
Notes payable
6,900
5,450
Total current liabilities
$ 25,000
$ 19,950
Long-term bonds
15,000
15,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2018
2017
Assets
Cash and equivalents
$ 13,000
$ 12,000
Accounts receivable
30,000
25,000
Inventories
27,115
24,000
Total current assets
$ 70,115
$ 61,000
Net plant and equipment
52,000
48,000
Total assets
$122,115
$109,000
Liabilities and Equity
Accounts payable
$ 10,400
$ 9,000
Accruals
8,000
7,000
Notes payable
6,900
5,450
Total current liabilities
$ 25,300
$ 21,450
Long-term bonds
10,000
10,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 13,000
$ 11,000
Accounts receivable
35,000
25,000
Inventories
33,205
24,000
Total current assets
$ 81,205
$ 60,000
Net plant and equipment
54,000
49,000
Total assets
$135,205
$109,000
Liabilities and Equity
Accounts payable
$ 10,100
$ 8,000
Accruals
7,200
7,000
Notes payable
6,600
5,250
Total current liabilities
$ 23,900
$ 20,250
Long-term bonds
15,000
15,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 13,000
$ 12,000
Accounts receivable
30,000
20,000
Inventories
28,650
18,000
Total current assets
$ 71,650
$ 50,000
Net plant and equipment
49,000
45,000
Total assets
$120,650
$95,000
Liabilities and Equity
Accounts payable
$ 10,700
$ 8,500
Accruals
7,700
7,000
Notes payable
6,700
5,050
Total current liabilities
$ 25,100
$ 20,550
Long-term bonds
20,000
20,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
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
$ 13,000
Accounts receivable
35,000
30,000
Inventories
34,660
27,000
Total current assets
$ 83,660
$ 70,000
Net plant and equipment
50,000
49,000
Total assets
$133,660
$119,000
Liabilities and Equity
Accounts payable
$ 10,700
$ 9,000
Accruals
7,100
5,000
Notes payable
6,200
5,400
Total current liabilities
$ 24,000
$ 19,400
Long-term bonds
20,000
20,000
Total liabilities
$...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
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 $ 13,000 $ 11,000 Accounts
receivable 35,000 30,000 Inventories 32,880 28,000 Total current
assets $ 80,880 $ 69,000 Net plant and equipment 51,000 48,000
Total assets $131,880 $117,000 Liabilities and Equity Accounts
payable $ 10,600 $ 8,000 Accruals 7,200 6,000 Notes payable 6,200
5,400 Total current liabilities $ 24,000 $ 19,400 Long-term bonds
15,000 15,000...
Arlington Corporation's financial statements (dollars and shares are in millions) are provided here. Balance Sheets as...
Arlington Corporation's financial statements (dollars and shares
are in millions) are provided here.
Balance Sheets as of December
31
2019
2018
Assets
Cash and equivalents
$ 14,000
$ 11,000
Accounts receivable
35,000
20,000
Inventories
31,230
18,000
Total current assets
$ 80,230
$ 49,000
Net plant and equipment
48,000
46,000
Total assets
$128,230
$95,000
Liabilities and Equity
Accounts payable
$ 10,700
$ 8,000
Accruals
7,800
6,000
Notes payable
6,100
5,000
Total current liabilities
$ 24,600
$ 19,000
Long-term bonds
15,000
15,000
Total liabilities
$...
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