Following is the stockholders' equity section from the Camplell Soup Company balance sheet.

Campbell Soup Company also reports the following statement of stockholders' equity.

a. Show the computation, using par value and share numbers, to arrive at the \(\$ 20\) million in the common stock account.

b. At what average price were the Campbell Soup shares issued?

c. Reconcile the beginning and ending balances of retained earnings.

d. Campbell Soup reports a \(\$ 112\) gain as part of Accumulated Other Comprehensive Income relating to foreign currency translation adjustments. Explain what foreign currency translation adjustments represent. What effect did foreign currency translation adjustments have on net earnings for the year?

e. Campbell Soup reports an increase in stockholders' equity relating to the exercise of stock options (titled "Treasury stock issued under management incentive and stock option plans"). This transaction involves the purchase of common stock by employees at a preset price. Describe how this set of transactions affects stockholders' equity.

f. Describe the transaction relating to the "Treasury stock purchased" line in the statement of stockholders' equity.

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Shareholders' Equity (millions, except per share amounts) August 3, 2008 Preferred stock: authorized 40 shares; none issued........ Capital stock, $.0375 par value: authorized 560 shares: July 29, 2007 $ issued 542 shares..... 20 20 Additional paid-in capital... 337 331 Earnings retained in the business 7,909 7,082 Capital stock in treasury, 186 shares in 2008 and 163 shares in 2007, at cost... (6,812) (6,015) Accumulated other comprehensive loss (136) (123) Total shareowners' equity... $1,318 $1,295