Please give me true answer this financial accounting question The following is a condensed version of the statement of shareholders' equity for Tech Nova Inc.for the fiscal year ending December 31, 2023 (in millions of dollars):TransactionBalance at January 1, 2023Net IncomeUnrealized Gain on Debt InvestmentsAmount ($ millions)$5,200$2,450$35($120)$6Unrealized Loss on Derivative InstrumentsForeign Currency Translation GainComprehensive IncomeRepurchase of 55 million sharesBalance at December 31, 2023$2,371Shares Issued on Exercise of Options (including tax benefits of $320) $510($2,640)$5,4411. TechNova's tax rate is 36 percent.2. The share repurchase occurred when the stock traded at $30 per share.What was the loss to shareholders from the exercise of stock options?

Step 1: Definition of Loss to Shareholders from the Exercise of Stock OptionsThe loss to…

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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