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Exercise 11-8 Wells Fargo & Company , headquartered in San Francisco, is one of the nations largest financial institutions. Suppose it reported the following selected

Exercise 11-8

Wells Fargo & Company, headquartered in San Francisco, is one of the nations largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2014.

Retained earnings $41,563
Preferred stock 8,485
Common stock$12/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares 8,743
Treasury stock67,346,829 common shares (2,450 )
Paid-in capital in excess of par valuecommon stock 52,878

Prepare the stockholders equity section of the balance sheet for Wells Fargo as of December 31, 2014.

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