Financial Statements The Davidson Corporation\'s balance sheet and income statem

Question

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 $20 Accounts payable $110 Accounts receivable 495 Notes payable 220 Inventories 890 Accruals 290 Total current assets $1,405 Total current liabilities $620 Net plant and equipment 2,435 Long-term bonds 1,480 Total debt $2,100 Common stock (100 million shares) 240 Retained earnings 1,500 Common equity $1,740 Total assets $3,840 Total liabilities and equity $3,840

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