Wells Fargo & Company, headquartered in San Francisco, is one of the nation\'s l
ID: 2349316 • Letter: W
Question
Wells Fargo & Company, headquartered in San Francisco, is one of the nation's largest financial institutions. It reported the following selected accounts (in millions) as of December 31, 2006.Retained Earnings $35,277
Preferred stock 384
Common stock - $1 2/3 par value, authorized 6,000,000,000 shares;
issued 3,472,762,050 shares 5,788
Treasury stock - 95,612,189 shares (3,203)
Additional paid-in capital - common stock 7,739
Complete the stockholders' equity section of the balance sheet for Wells Fargo as of December 31, 2006, below (in millions). (If amount should be deducted use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)
WELLS FARGO & COMPANY
Balance sheet (Partial)
December 31, 2006
(in millions)
Stockholders' equity
Paid-in capital
Capital stock
Preferred stockCommon stockRetained earningsTreasury stockIn excess of par value-common stock, $
Common stockPreferred stockRetained earningsTreasury stockIn excess of par value-common stock, $1 2/3 par value
shares authorized
shares issued and
shares outstanding
Total capital stock $
Additional paid-in capital
Common stockIn excess of par value-common stockTreasury stockRetained earningsPreferred stock
Total paid-in capital
In excess of par value-common stockCommon stockTreasury stockPreferred stockRetained earnings
Total paid-in capital and retained earnings
Less: Treasury stockRetained earningsIn excess of par value-common stockCommon stockPreferred stock
( shares)
Total Stockholders' Equity $
Explanation / Answer
Stockholders' Equity Wells Fargo & Company December 31, 2006 (in millions) Paid-In Capital Preferred stock . . . . . . . . . . . . . . . . . . . . . $. .384 Common stock - $1 2/3 par value, authorized 6,000,000,000 shares; issued 3,472,762,050 shares . . . . . . . . . . . . 5,788 Additional paid-in capital - common stock . . . 7,739 Total paid-in Capital . . . . . . . . . . . . . . . . . . . . . . . . . $13,911 Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,277 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$49,188 Less: Treasury stock - 95,612,189 shares . . . . . . . . . . .(3,203) Total stockholders' equity . . . . . . . . . . . . . . . . . . . . . $45,985
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