Question: Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 28, 2006 ($ millions). Contributed capital, Jan.
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 28, 2006 ($ millions).
| Contributed capital, Jan. 28, 2006 | $2,456 |
| Treasury stock, Jan. 28, 2006 | (5,210) |
| Retained earnings, Jan. 28, 2006 | 8,133 |
| Accumulated other comprehensive income, Jan. 28, 2006 | 46 |
During fiscal year 2007, Gap reported the following:
| 1. Sale of stock | $ 230 |
| 2. Purchase of stock | 1,025 |
| 3. Net income | 778 |
| 4. Cash dividends | 265 |
| 5. Other comprehensive income | 31 |
Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended February 3, 2007.
Hint: Enter treasury stock amounts, cash dividends and losses as negative numbers.
| Gap, Inc. Statement of Stockholders' Equity For Year Ended February 3, 2007 | |||||
|---|---|---|---|---|---|
| Contributed Capital | Treasury Stock | Retained Earnings | Accumulated Other Comp. Income/(Loss) | Stockholders' Equity | |
| January 28, 2006 | Answer | Answer | Answer | Answer | Answer |
| Sale of stock | Answer | Answer | Answer | Answer | Answer |
| Repurchase of stock | Answer | Answer | Answer | Answer | Answer |
| Net income | Answer | Answer | Answer | Answer | Answer |
| Othercomprehensive 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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