Procter & Gamble has sales in excess of $83 billion and sells products that are part of

Question:

Procter & Gamble has sales in excess of $83 billion and sells products that are part of most of our daily lives, including Crest, Duracell, Olay, Gillette, Tide, and Vicks. A recent annual report for P&G contained the following information:
a. Retained earnings at the end of 2013 totaled $80,197 million.
b. Net income for 2014 was $11,643 million.
c. of the stock is $1 per share.
d. Cash dividends declared in 2014 were $6,850 million.
e. The account totaled $4,009 million at the end of 2014 and $4,009 million at the end of 2013.
Required (assume that no other information concerning stockholders' equity is relevant):
1. Calculate the number of shares issued at the end of 2014.
2. Calculate the amount of retained earnings at the end of 2014.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...