Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s la

ID: 2709975 • Letter: W

Question

Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2014. Retained earnings $40,000 Preferred stock 8,333 Common stock—$12/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares 8,618 Treasury stock—67,346,829 common shares (2,430 ) Paid-in capital in excess of par value—common stock 52,526 Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 2014. WELLS FARGO & COMPANY Partial Balance Sheet December 31, 2014 (in millions)

Explanation / Answer

WELLS FARGO & COMPANY Partial Balance Sheet December 31, 2014

Stockholders’ Equity:

Preferred Stock

8333000000

Common Stock

34472000000

Capital in Excess of Par Value

127638180

Retained Earnings

40,000

42932678180

Less: Treasury Stock

67346829

42865331351