Statement of Retained Earnings for PepsiCo PepsiCo Inc. and Subsidiaries reported the following amounts in various statements included in its 2008 annual report. (All amounts are stated in millions of dollars.)

Net income for 2008 $ 5,142 Cash dividends declared in 2008 2,599 Retained earnings, December 29, 2007 28,095 Retained earnings, December 27, 2008 30,638 Required 1. Prepare a statement of retained earnings for PepsiCo for the year ended December 27, 2008.

2. PepsiCo does not actually present a statement of retained earnings in its annual report. Instead, it presents a broader statement of shareholders’ equity. Describe the information that would be included on this statement that is not included on a statement of retained earnings.

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