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Mercury Ltd. reported the following information for financial year 2018 (in million dollars): Statement of Shareholders Equity Balance, end of 2017 1,670 Share issues 720

Mercury Ltd. reported the following information for financial year 2018 (in million dollars):

Statement of Shareholders Equity

Balance, end of 2017

1,670

Share issues

720

Repurchase of 24 million common shares

(672)

Common dividend

(150)

Preferred dividend

(15)

Unrealised gain on debt investments

14

Net income

308

Balance, end of 2018

1,875

Mercury is in the 30% tax bracket. Mercury also reported $15 million in interest income and $98 million in interest expense for 2018. Mercury had a sales revenue of $3,276 in 2018.

Required:

a) Prepare a reformulated Statement of Shareholders Equity.

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