Assume the following is the stockholders' equity section of the 2016 balance sheet for Procter & Gamble Company and its statement of stockholders' equity. Amounts in millions; June 30 2016 2015 Shareholders' Equity Convertible Class A preferred stock, stated value $1 per share (600 shares authorized).. Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized). Common stock, stated value $1 per share (10,000 shares authorized; shares outstanding: 2016-3,975.8, 2015-2,976.6)..... Additional paid-in capital, Reserve for ESOP debt retirement. Accumulated other comprehensive income $ 1,451 $ 1,483 3,976 2,977 57,856 3,030 (1,288) (518) (34,235) (1,259) (1,566) Treasury stock, at cost (shares held: 2016-797.0, 2015-503.7)...... Retained earnings. Total shareholders' equity.. (17,194) 31,004 $18.475 35,666 $62,908 Consolidated Statement of Shareholders' Equity Accum. Other Total Compre- hensive Income Reserve Common Shares Outstanding Add'l Dollars in millions/ shares in thousands for ESOP Debt Retirement Compre- hensive Income Common Preferred Paid-in Treasury Retained Stock Stock Capital Stock Earnings Total Bal. June 30, 2015 2,472.934 $2,977 $1,483 $3,030 $(1,259) $(1,566) $(17,194) $31,004 $18,475 Net Earnings Other comprehensive income: Financial statement translation Net investment hedges, net of $472 tax 8,684 8,684 $8,684 1.316 1,316 1,316 (786) (786) (786) Other, net of tax benefits Total comprehensive income Dividends to shareholders: Common Preferred, net of tax benefits 518 518 518 $9.732 (3,555) (3,555) (148) (148) Treasury purchases (297,132) (9) (16,821) (16,830) Employee plan issuances Preferred stock Conversions 36,763 16 1,308 887 (319) 1,892 3,788 (32) 27 Gillette acquisition Change in ESOP debt reserve 962,488 983 53,522 (1,134) 53,371 (29) (29) Bal. June 30, 2016 3.178.841 $3.976 $1.451 $57.856 $(1.288) $ (518) $(34.235) $35.666 $62.908 How many shares of common stock did Procter & Gamble issue when convertible class A preferred stock was converted during fiscal 2016? 36,763,000 3,788,000 c. 962,488,000 d. 600,000,000 a. b.
Assume the following is the stockholders' equity section of the 2016 balance sheet for Procter & Gamble Company and its statement of stockholders' equity. Amounts in millions; June 30 2016 2015 Shareholders' Equity Convertible Class A preferred stock, stated value $1 per share (600 shares authorized).. Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized). Common stock, stated value $1 per share (10,000 shares authorized; shares outstanding: 2016-3,975.8, 2015-2,976.6)..... Additional paid-in capital, Reserve for ESOP debt retirement. Accumulated other comprehensive income $ 1,451 $ 1,483 3,976 2,977 57,856 3,030 (1,288) (518) (34,235) (1,259) (1,566) Treasury stock, at cost (shares held: 2016-797.0, 2015-503.7)...... Retained earnings. Total shareholders' equity.. (17,194) 31,004 $18.475 35,666 $62,908 Consolidated Statement of Shareholders' Equity Accum. Other Total Compre- hensive Income Reserve Common Shares Outstanding Add'l Dollars in millions/ shares in thousands for ESOP Debt Retirement Compre- hensive Income Common Preferred Paid-in Treasury Retained Stock Stock Capital Stock Earnings Total Bal. June 30, 2015 2,472.934 $2,977 $1,483 $3,030 $(1,259) $(1,566) $(17,194) $31,004 $18,475 Net Earnings Other comprehensive income: Financial statement translation Net investment hedges, net of $472 tax 8,684 8,684 $8,684 1.316 1,316 1,316 (786) (786) (786) Other, net of tax benefits Total comprehensive income Dividends to shareholders: Common Preferred, net of tax benefits 518 518 518 $9.732 (3,555) (3,555) (148) (148) Treasury purchases (297,132) (9) (16,821) (16,830) Employee plan issuances Preferred stock Conversions 36,763 16 1,308 887 (319) 1,892 3,788 (32) 27 Gillette acquisition Change in ESOP debt reserve 962,488 983 53,522 (1,134) 53,371 (29) (29) Bal. June 30, 2016 3.178.841 $3.976 $1.451 $57.856 $(1.288) $ (518) $(34.235) $35.666 $62.908 How many shares of common stock did Procter & Gamble issue when convertible class A preferred stock was converted during fiscal 2016? 36,763,000 3,788,000 c. 962,488,000 d. 600,000,000 a. b.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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