Question: Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions). Contributed capital, Jan.
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions).
| Contributed capital, Jan. 30, 2010 | $2,990 |
| Treasury stock, Jan. 30, 2010 | (9,069) |
| Retained earnings, Jan. 30, 2010 | 10,815 |
| Accumulated other comprehensive income, Jan. 30, 2010 | 155 |
During fiscal year 2011, Gap reported the following:
| 1. Sale of stock | $ 4 |
| 2. Purchase of stock | 1,797 |
| 3. Net income | 1,204 |
| 4. Cash dividends | 252 |
| 5. Other comprehensive income | 30 |
Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 29, 2011. Hint: Enter treasury stock, cash dividends and losses as negative numbers.
| Gap, Inc. Statement of Stockholders' Equity AnswerJanuary 29, 2011For Year Ended January 29, 2011 | |||||
|---|---|---|---|---|---|
| Common Stock and APIC | Treasury Stock | Retained Earnings | Accumulated Other Comp. Income | Stockholders' Equity | |
| January 30, 2010 | $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 |
| January 29, 2011 | $Answer | $Answer | $Answer | $Answer | $Answer |
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