Problem 3-14 Financial Statements The Davidson Corporation\'s balance sheet and

Question

Problem 3-14
Financial Statements

The Davidson Corporation's balance sheet and income statement are provided here.

Davidson Corporation: Balance Sheet as of December 31, 2012 (Millions of Dollars)

Davidson Corporation: Income Statement for Year Ending December 31, 2012 (Millions of Dollars)

Construct the statement of stockholders' equity for December 31, 2012. No common stock was issued during 2012. 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.

Enter your answers for parts b-d in millions. For example, an answer of $25,000,000 should be entered as 25.

Assets Liabilities and Equity Cash and equivalents $10    Accounts payable $110 Accounts receivable 490    Notes payable 225 Inventories 850    Accruals 240   Total current assets $1,350      Total current liabilities $575 Net plant and equipment 2,585    Long-term bonds 1,500      Total debt $2,075    Common stock (100 million shares) 260    Retained earnings 1,600      Common equity $1,860 Total assets $3,935    Total liabilities and equity $3,935

Explanation / Answer

answer is at

http://www.chegg.com/homework-help/questions-and-answers/financial-statements-davidson-corporation-rsquo-s-balance-sheet-income-statementare-given--q911014

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