Following is the shareholders' equity section of the 2008 balance sheet for Procter & Gamble Company and its statement of shareholders' equity.

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a. What does the term convertible (in reference to the company's Class A preferred stock) mean'?

b. How many shares of common stock did Procter \& Gamble issue when convertible Class A Fortune Brands (FO) preferred stock was converted during fiscal 2008?

c. Assuming that the convertible Class A preferred stock was sold at par value, at what average price were the common shares issued as of year-end 2008?

d. What is the accumulated other comprehensive income account? Explain.

e. What cash dividends did Procter \& Gamble pay in 2008 for each class of stock?

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June 30 (In millions, except per share amounts) Shareholders' Equity 2008 2007 Convertible Class A preferred stock, stated value $1 per share (600 shares authorized)..... $ 1,366 $ 1,406 Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized)..... Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2008 -4,001.8, 2007-3,989.7). 4,002 3,990 Additional paid-in capital... 60,307 59,030 Reserve for ESOP debt retirement.. (1,325) (1,308) Accumulated other comprehensive income.. 3,746 617 Treasury stock, at cost (shares held: 2008-969.1, 2007-857.8). (47,588) (38,772) Retained earnings 48,986 41,797 Total shareholders' equity $69,494 $66,760