Barrick Gold Corporation is a Canadian company with its head office in Toronto, Ontario. It mines gold and precious metals around the world. Barrick’s shares trade on the New York and Toronto stock exchanges. The equity section of its December 31, 2011, balance sheet, along with Section 28(a) of the notes to the financial statements, showed the following:
Required Using the information provided above, answer the following questions. 1. Calculate the total dividends declared and paid in 2011 and 2010 by Barrick Gold. 2. What are dividends? Be sure to include as part of your answer the effect of dividends on equity. 3. How many common shares does Barrick Gold have available for issue at December 31, 2011? 4. How many preferred shares did Barrick Gold have issued at December 31, 2011? 5. Barrick reported a deficit of $2,535 million at January 1, 2010. Explain what thatmeans.