Analyzing and Interpreting Equity Accounts and Comprehensive Income Following is the shareholders equity section of the 2013 balance sheet for Procter & Gamble Company and its statement of shareholders equity.

June 30 (In millions, except per share amounts)	2013
Shareholders' Equity
Convertible Class A preferred stock, stated value $ 1 per share
(600 shares authorized)	$ 1,137
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: 2013-4,009.2)	4,009
Additional paid-in capital	63,538
Reserve for ESOP debt retirement	(1,352)
Accumulated other comprehensive income/(loss)	(7,499)
Treasure stock, at cost (shares held: 2013-1,266.9)	(71,966)
Retained earnings	80,197
Noncontrolling interest	645
Total shareholders' equity	$ 68,709

Consolidated Statement of Shareholders' Equity
Dollars in millions; Shares in thousands	Common Shares Outstanding	Common Stock	Preferred Stock	Additional Paid-in Capital	Reserve for ESOP Debt Retirement	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Retained Earnings	Noncontrolling Interest	Total
Balance June 30, 2012	$ 2,748,033	$ 4,008	$ 1,195	$ 63,181	$ (1,357)	$ (9,333)	$ (69,604)	$ 75,349	$ 596	$ 64,035
Net earnings								11,312	90	11,402
Other comprehensive income						1,834				1,834
Dividends to shareholders:
Common								(6,275)		(6,275)
Preferred, net of tax benefits								(244)		(244)
Treasury purchases	(84,234)						(5,986)			(5,986)
Employee plan issuances	70,923	1		352			3,573			3,926
Preferred stock conversions	7,605		(58)	7			51
ESOP debt impacts					5			55		60
Noncontrolling interest, net				(2)					(41)	(43)
Balance June 30, 2013	$ 2,742,327	$ 4,009	$ 1,137	$ 63,538	$ (1,352)	$ (7,499)	$ (71,966)	$ 80,197	$ 645	$ 68,709

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

Convertible means the holder of the security has an obligation to convert (exchange) the security into another security.

Convertible means the holder of the security has an option to surrender the security and to receive cash at any time.

Convertible means the holder of the security has an option to convert (exchange) the security into another security.

Convertible means the holder of the security has an option to sell the security at any time.

(b) How many shares of common stock did Procter & Gamble issue when convertible Class A preferred stock was converted during fiscal 2013?

Answer

thousand shares (c) For "employee plan issuances," at what average price was the common stock issued as of year-end 2013? (Round your answer to two decimal places.)

$Answer

(d) What is the accumulated other comprehensive income account?

The accumulated other comprehensive income account reflects the cumulative profit recognized by the company less the cumulative dividends that have been paid to shareholders.

The accumulated other comprehensive income account reflects the cumulative change in net assets (defined as assets less liabilities) for transactions other than net income transactions and transactions with shareholders.

The accumulated other comprehensive income account reflects the cumulative profit on transactions with shareholders.

The accumulated other comprehensive income account reflects the cumulative amount by which the company's common stock has increased or decreased since issuance.

(e) What cash dividends did Procter & Gamble pay in 2013 for each class of stock?

Common dividends =Answer

($ millions) Preferred dividends =Answer($ millions)