Question: Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at February 3, 2007 ($ millions). Contributed capital, Feb.
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at February 3, 2007 ($ millions).
| Contributed capital, Feb. 3, 2007 | $2,686 |
| Treasury stock, Feb. 3, 2007 | (6,235) |
| Retained earnings, Feb. 3, 2007 | 8,646 |
| Accumulated other comprehensive income, Feb. 3, 2007 | 77 |
During fiscal year 2008, Gap reported the following:
| 1. Sale of stock | $ 152 |
| 2. Purchase of stock | 1,677 |
| 3. Net income | 833 |
| 4. Cash dividends | 256 |
| 5. Other comprehensive income | 48 |
Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended February 2, 2008. Hint: Enter treasury stock, cash dividends and losses as negative numbers.
| Gap, Inc. Statement of Stockholders' Equity For Year Ended February 2, 2008 | |||||
|---|---|---|---|---|---|
| Common Stock and APIC | Treasury Stock | Retained Earnings | Accumulated Other Comp. Income/(Loss) | Stockholders' Equity | |
| February 3, 2007 | $Answer | $Answer | $Answer | $Answer | $Answer |
| Sale of stock | Answer | Answer | Answer | Answer | Answer |
| Purchase of stock | Answer | Answer | Answer | Answer | Answer |
| Net income | Answer | Answer | Answer | Answer | Answer |
| Other comprehensive income | Answer | Answer | Answer | Answer | Answer |
| Cash dividends | Answer | Answer | Answer | Answer | Answer |
| February 2, 2008 | $Answer | $Answer | $Answer | $Answer | $Answer |
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