10. Campbell reported the following selected information at August 2, 2013 ($ mi
ID: 2532911 • Letter: 1
Question
10. Campbell reported the following selected information at August 2, 2013 ($ millions):
Common stock, August 3, 2012
$600
Stock issued during August 3, 2012 to August 2, 2013
320
Retained Earnings, August 3, 2012
791
Net income
736
Dividends
357
Use this information to prepare a statement of stockholders’ equity for Campbell’s for the year ending August 2, 2013.
Common stock, August 3, 2012
$600
Stock issued during August 3, 2012 to August 2, 2013
320
Retained Earnings, August 3, 2012
791
Net income
736
Dividends
357
Explanation / Answer
Statement of Stockholders' equity (in millions) Common Stock ($600+$320) $ 920 Retained earnings Beginning balance $ 791 Add: Current year net income $ 736 Less: Dividends $ (357) Ending Retained earnings $ 1,170 Total stockholders' equity $ 2,090
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