Reformulate the following statement of shareholder's equity. The firm's tax rate is 35 percent. Balance, end of

Question:

Reformulate the following statement of shareholder's equity. The firm's tax rate is 35 percent.

Balance, end of fiscal year 2011 .......................................... $1,430

Share issues from exercised employee stock options ........... 810

Repurchase of 24 million shares ............................................. (720)

Cash dividend ............................................................................ (180)

Tax benefit from exercise of employee stock options .............. 12

Unrealized gain on debt investments ......................................... 50

Net income ................................................................................... 468

Balance, end of fiscal year 2012 ........................................... $1,870

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...