Question

Procter & Gamble is an $84 billion company that sells products that are part of most of our daily lives, including Mr. Clean, Cheer, Crest, Vicks, Scope, Pringles, Folgers, Vidal Sassoon, Zest, and Charmin.
The annual report for P&G contained the following information:
a. Retained earnings at the end of 2011 totaled $70,682 million.
b. Net income for 2012 was $10,756 million.
c. Par value of the stock is $1 per share.
d. Cash dividends declared in 2012 were $1.45 per share.
e. The Common Stock, Par Value account totaled $4,008 million at the end of 2012 and $4,008 at the end of 2011.

Required
1. Estimate the number of shares outstanding at the end of 2012.
2. Estimate the amount of retained earnings at the end of 2012.



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  • CreatedJuly 01, 2014
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