The following information was taken from the 2014 statement of shareholders€™ equity of Home Depot (dollars in millions):

a. What portion of net income was paid out in dividends during the year?
b. Explain how the issuance of shares affected the basic accounting equation.
c. Explain how the purchase of treasury stock affected the basic accounting equation.
d. How much cash was distributed to the company€™s shareholders during the year?
e. What was the balance sheet value of the retained earnings account at the end of the year?

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Additional Paid-In Capital $8,402 Treasury Stock Common Retained Earnings $23,180 Stock Beginning balance Net income Shares issued under employee stock plans, stock options, other ($19,194) $88 6,345 483 Repurchase of common stock Cash dividends (7,000) (2,530)