Question: A Simple Reformulation of the Equity Statement (Easy) From the following information, prepare a reformulated statement of common shareholders equity for 2008. Amounts are in

A Simple Reformulation of the Equity Statement (Easy)

From the following information, prepare a reformulated statement of common shareholders’ equity for 2008. Amounts are in millions.

Balance, December 31, 2007 Net income Foreign currency translation loss Unrealized gain

The beginning and end-of-year balances include $200 million of preferred stock.

Balance, December 31, 2007 Net income Foreign currency translation loss Unrealized gain on debt securities held Issue of shares Common dividends Preferred dividends Balance, December 31, 2008 $1,206 241 (11) 24 45 (94) (15) $1,396

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