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Category > Management Posted 03 Nov 2017 My Price 9.00

Davidson Corporation’

3-9      FINANCIAL STATEMENTS The Davidson Corporation’s balance sheet and income state- ment are provided here.

Davidson Corporation: Balance Sheet as of December 31, 2008 (Millions of Dollars)

Assets

 

Liabilities and Equity

 

Cash and equivalents

$    15

Accounts payable

$   120

Accounts receivable

515

Notes payable

220

Inventories

      880

Accruals

     280

Total current assets

$1,410

Total current liabilities

$   620

Net plant and equipment

2,590

Long-term bonds

    1,520

 

 

Total debt

$  2,140

 

 

Common stock (100 million shares)

260

 

 

Retained earnings

    1,600

 

 

Common equity

$  1,860

Total assets

$4,000

Total liabilities and equity

$  4,000

 

Davidson Corporation: Income Statement

For Year Ending December 31, 2008 (Millions of Dollars)

 

Sales

$6,250

Operating costs excluding depreciation and amortization

  5,230

EBITDA

$1,020

Depreciation & amortization

      220

EBIT

$   800

Interest

     180

EBT

$   620

Taxes (40%)

     248

Net income

$   372

 

Common dividends paid

 

$   146

Earnings per share

$  3.72

 

a.        Construct the statement of stockholders’ equity for December 31, 2008.

b.       How much money has been reinvested in the firm over the years?

c.        At the present time, how large a check could be written without it bouncing?

d.       How much money must be paid to current creditors within the next year?

 

Answers

Maurice Tutor
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Status NEW Posted 03 Nov 2017 09:11 PM My Price 9.00

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