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Assume Intel Corporation reported the following in its 2008 10K report. ShareBased Compensation Effective January 1, 2006, we adopted the provisions of SFAS No. 123(R) . . . Sharebased compensation recognized in 2008 was $852 million ($952 million in 2007 and $1,375 million in 2006). We use the BlackScholes option pricing model to estimate the fair value of options granted under our equity incentive plans and rights to acquire common stock granted under our stock purchase plan. We based the weighted average estimated values of employee stock option grants and rights granted under the stock purchase plan, as well as the weighted average assumptions used in calculating these values, on estimates at the date of grant, as follows: Stock Options Estimated fair values Expected life (in years) 2008 $ 5.74 2007 2006 $ $ 5.21 5.79 5.0 5.0 4.9 Risk-free interest rate 3.0% 4.5% 4.9% Volatility 37% 26% 27% Dividend yield 2.7% 2.0% 2.0% Additional information with respect to stock option activity is as follows: (In Millions, Except Per Share Amounts) Number of Shares Weighted Average Exercise Price December 31, 2005 899.9 $26.71 52.3 $20.04 Exercises (47.3) $12.83 Cancellations and forfeitures (65.4) $28.07 December 30, 2006 839.5 $26.98 24.6 $22.63 (132.8) $19.78 Grants Grants Exercises Cancellations and forfeitures December 29, 2007 (65.4) $31.97 665.9 $27.76 27.9 $21.81 Exercises (38.6) $19.42 Cancellations and forfeitures (42.8) $31.14 Grants Expirations December 27, 2008 (2.4) 610.0 $25.84 $27.79 (a) What did Intel expense for sharebased compensation for 2008? Answer 0 ($ million) How many options did Intel grant in 2008? Answer 0 (million shares) Compute the fair value of all options granted during 2008. (Round your answer to one decimal place.) Answer 0 ($ million) c) How many options were exercised during 2008? Answer 0 million shares Estimate the cash that Intel received from its employees when these options were exercised. (Round your answer to one decimal place.) Answer 0 ($ million) (d) What was the intrinsic value per share of the options exercised in 2008? (Hint: Assume that Intel grants options atthemoney.) $Answer 0 per share If employees who exercised options in 2008 immediately sold them, what "profit" did they make from the shares? (Round your answer to one decimal place.) Answer 0 ($ million) The tax benefit that Intel will receive on the options exercised is computed based on the intrinsic value of the options exercised. Estimate Intel's tax benefit from the 2008 option exercises assuming a tax rate of 34.7%. (Round your answer to one decimal place.) Answer ($ million) (f) What was the average exercise price of the options that expired in 2008? $Answer per share Assume this is the stockholders' equity section from the Abercrombie & Fitch balance sheet. January 28, 2012 Shareholders' Equity (thousands, except par value amounts) January 29, 2011 Class A common stock-$0.01 par value: 150,000 shares authorized and 101,900 shares issues at January 28, 2012, and January 29, 2011, respectively $ 1,019 $ 1,019 Paid-in capital 319,451 289,732 2,051,463 1,646,290 7,118 (994) (760,752) (530,764) $ 1,618,299 $ 1,405,283 Retained earnings Accumulated other comprehensive income (loss), net of tax Treasury stock at average cost: 18,141.116 and 14,999.945 shares at January 28, 2012 and January 29, 2011, respectively Total shareholders' equity How many shares are outstanding at January 28, 2012? Answer shares Use the common stock and paidin capital accounts to determine the average price at which Abercrombie & Fitch issued its common stock. (Round your answer to two decimal places.) $Answer (d) Use the treasury stock account to determine the average price Abercrombie & Fitch paid when it repurchased its common shares. (Round your answer to two decimal places.) $Answer Assume this is the shareholders' equity section of the 2008 balance sheet for Procter & Gamble Company and its statement of shareholders' equity. June 20 (In millions, except per share amounts) 2008 2007 Convertible Class A preferred stock, stated value $ 1 per share (600 shares authorized) $ 1,366 $ 1,406 Non-voting Class B preferred stock, stated value $ 1 per share -- -- Shareholders' Equity June 20 (In millions, except per share amounts) 2008 2007 (200 shares authorized) Common stock, stated value $ 1 per share (10,000 shares authorized; shares issued: 2008-4,001.8, 2007-3,989.7) 4,002 3,990 Additional paid-in capital 60,547 59,270 Reserve for ESOP debt retirement (1,325) (1,308) 3,746 617 Accumulated other comprehensive income Treasure stock, at cost (shares held: 2008-969.1, 2007-857.8) (47,588) (38,772) 49,034 Retained earnings Total shareholders' equity 41,797 $ 69,782 $ 67,000 Consolidated Statement of Shareholders' Equity Dollars in millions; Shares in thousand s Balance June 30, 2007 Common Shares Outstandin g 3,131,946 Common Stock $ 3,990 Preferred Stock $ 1,406 Additional Paid-in Capital $ 59,270 Reserv e for ESOP Debt Retire ment Accumulated Other Comprehen sive Income $ (1,308) $ 617 Net earnings Treasury Stock $ (38,772) Retai ned Total Earni ngs $ $ 41,79 67,00 7 0 12,07 12,07 5 5 Other comprehe nsive income: Financial statement translatio n 6,543 6,543 Net investem ent hedges, net of $ 1,719 tax (2,951) (2,95 1) Other, net of tax benefits (463) Total comprehe nsive income Cumulati ve impact (463) 15,20 4 (232) (232) Consolidated Statement of Shareholders' Equity Dollars in millions; Shares in thousand s Common Shares Outstandin g Common Stock Preferred Stock Additional Paid-in Capital Reserv e for ESOP Debt Retire ment Accumulated Other Comprehen sive Income Treasury Stock Retai ned Total Earni ngs for adoption of FIN 48 Dividend s to sharehold ers: Common (4,43 9) Preferred, net of tax benefits (168) (168) Treasury stock purchases (150,121) Employe e plan issuances 45,910 Preferred stock conversio ns 4,642 12 (40) (10,047) (10,0 47) 1,272 1,196 2,480 5 35 -- ESOP debt impacts (17) Balance June 30, 2008 3,032,577 $ 4,002 $ 1,366 (4,43 9) $ 60,547 $ (1,325) 1 $ 3,746 $ $ (47,588) 49,034 (16) $ 69,78 2 How many shares of common stock did Procter & Gamble issue when convertible Class A preferred stock was converted during fiscal 2008? Answer 0 thousand shares (c) For "employee plan issuances," at what average price was the common stock issued as of year end 2008? (Round your answer to two decimal places.) $Answer What cash dividends did Procter & Gamble pay in 2008 for each class of stock? common dividends =Answer ($ millions) preferred dividends =Answer ($ millions)