In: Accounting
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 | $ 15,000 | $ 11,000 | |
Accounts receivable | 30,000 | 25,000 | |
Inventories | 28,295 | 23,000 | |
Total current assets | $ 73,295 | $ 59,000 | |
Net plant and equipment | 47,000 | 46,000 | |
Total assets | $120,295 | $105,000 | |
Liabilities and Equity | |||
Accounts payable | $ 10,800 | $ 9,500 | |
Accruals | 7,000 | 5,000 | |
Notes payable | 6,000 | 5,150 | |
Total current liabilities | $ 23,800 | $ 19,650 | |
Long-term bonds | 15,000 | 15,000 | |
Total liabilities | $ 38,800 | $ 34,650 | |
Common stock (4,000 shares) | 50,000 | 50,000 | |
Retained earnings | 31,495 | 20,350 | |
Common equity | $ 81,495 | $ 70,350 | |
Total liabilities and equity | $120,295 | $105,000 |
Income Statement for Year Ending December 31, 2018 | |
Sales | $206,000 |
Operating costs excluding depreciation and amortization | 160,000 |
EBITDA | $ 46,000 |
Depreciation & amortization | 6,000 |
EBIT | $ 40,000 |
Interest | 2,750 |
EBT | $ 37,250 |
Taxes (40%) | 14,900 |
Net income | $ 22,350 |
Dividends paid | 11,205 |
Enter your answers in millions. For example, an answer of $25,000,000,000 should be entered as 25,000. Round your answers to the nearest whole number, if necessary.
2017 | $ million |
2018 | $ million |
Statement of Stockholders' Equity, 2018 | |||||
Common Stock | Retained Earnings |
Total Stockholders' Equity |
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Shares | Amount | ||||
Balances, 12/31/17 | million | $ million | $ million | $ million | |
2018 Net Income | million | ||||
Cash Dividends | million | ||||
Addition to retained earnings | million | ||||
Balances, 12/31/18 | million | $ million | $ million | $ million |
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