Optical Products Company reported the following shareholders' equity on its balance sheet:

Requirements
1. What caused Optical Products's preferred shares to decrease during 2017? Cite all the possible causes.
2. What caused Optical Products's common shares to increase during 2017? Identify all the possible causes.
3. How many shares of Optical Products were outstanding at December 31, 2017?
4. Optical Products's net income during 2017 was $1,410 million. How much were Optical Products's dividends during the year?

Transcribed Image Text:

December 31, 2017 Shareholders' Equity (dollars and shares in millions) Preferred shares; authorized 20 shares; 2016 Convertible Preferred shares; issued and outstanding: 2017 and 2016-0 and 2 shares, respectively.. Common shares; authorized unlimited shares; issued: $ 0 12 4 shares, respectively Retained earnings otal shuarhhokkers epuity. loial liabilities atul dareluide s' 혀'uty 3,270 6,0) $ 9,550 $惜,918 1,900 5,006 6,918 SVi,519 .. .. .. .. .. .. ..