Finning International Inc., headquartered in Edmonton, describes itself as "the world's largest Caterpillar equipment dealer," with operations in Western Canada, South America, the United Kingdom, and Ireland.

As at December 31, 2016, the company had a straightforward share capital structure, described in Note 7 to the financial statements as:

The Company is authorized to issue an unlimited number of preferred shares without par value, of which 4.4 million are designated as cumulative redeemable preferred shares. The Company had no preferred shares outstanding for the years ended December 31, 2016 and 2015.

The Company is authorized to issue an unlimited number of common shares.

Exhibit 11.14 contains Finning International Inc.'s 2016 consolidated statement of shareholders' equity. All amounts are in thousands.

(the table for Finning measures all dollar amountsinmillions of dollars.There is a typed statement above that says amounts are in thousands.This isNOTcorrect.The second question asks for the 'average issue price'.This wording is confusing.It does not mean the average priceper share.Instead it is asking for the total dollar value for which the outstanding common shares were originally issued.The answer is easier than you think.)

Accumulated Other Comprehensive Income Share Capital (Loss) Foreign Currency Translation and Gain (Loss) on Gain Net (Loss) on (Canadian $ millions, Number of Contributed Investment Cash Flow Retained except number of shares) Shares Amount Surplus Hedges Hedges Earnings Total Balance, January 1, 2015 172,370,255 $583 $ 39 $114 $(13) $1,408 $2,131 Net loss (161) (161) Other comprehensive income - 213 62 278 Total comprehensive income (loss) - I 213 (99) 117 Issued on exercise of share options 44,343 1 = = 1 Share option expense 7 7 Repurchase of common shares (4,383,170) (14) (46) (31) (91) Dividends on common shares (124) (124) Adjustment for change in accounting policy (Note 18a) - 9 Balance, December 31, 2015 168,031,428 $570 S - $327 $ (1) $1,154 $2,050 Net income 65 65 Other comprehensive (loss) income - (84) (13) (96) Total comprehensive (loss) Income - - (84) 52 (31) Issued on exercise of share options 135,774 3 (3) - Share option expense - 5 5 Dividends on common shares (123) (123 Balance, December 31, 2016 168,167,202 $573 $ 2 $243 $ - $1,083 $1,901How many common shares were outstanding on December 31, 2016? Outstanding common shares 168,167 202 What was the average issue value of those shares? (Enter amount In millions.) Average issue value $ eTextbook and Media Your answer is partially correct. What was Finning's reported net income for 2016? Net income $ 65 million How much did it pay out in dividends? (Enter amount In millions.) Pay out in dividends 123 million What was its dividend payout ratio? (Round answer to O decimal places, e.g. 15%) Dividend payout ratio eTextbook and Media * Your answer is incorrect. Using only the statement of shareholders' equity, calculate the return on equity for Finning for 2016 and 2015. (Round answers to 1 decimal place, e.g. 15.2% Enter negative answers using either a negative sign preceding the number eg. -15.2 or parentheses e.g. (15.2).) Return on equity ratio 2016 2015