The equity categories for Swire Pacific Limited are illustrated in Exhibit 13-9, on page 801. Using the information in the exhibit, answer the following questions:

1. Recall that the primary purpose of defining different reserve categories is to distinguish between distributable and nondistributable equity. As of December 31, 2007, how much of Swire Pacific’s equity is distributable?

2. What is the U.S. equivalent of Swire Pacific’s revenue reserve?

3. What do you think is the purpose of the capital redemption reserve?