the financial statements of Procter & Gamble Company for the fiscal year ended June 30, 2015. The goal is to contribute to your financial literacy and enable you to engage in just-in-time learning. Should a situation present itself sometime in the future when you need to acquire additional depth of knowledge, you will have an initial familiarity that will enable you to seek out the additional knowledge you require. These are complex topics; to complicate matters further, the nature of some securities is such that it is hard to make the distinction between what is debt and what is equity. You can access the financial statements for Procter & Gamble Company for the year ended June 30, 2015, in many ways, including by visiting the company website. To access the 10-K, go to the website for the Securities and Exchange Commission (sec.gov). Then select "Filings" and "Company Filings Search." Enter "Procter & Gamble" in the search box that appears. You will arrive on a page detailing all the filings; type "10-K" in the "Filing Type" box at the top of the page, and the filings will be re-sorted so that the 10-K filings are at the head of the listing.

Equity:

1. Explain why the amount reported for Treasury Stock as of June 30, 2015, is subtracted for stockholders' equity.
2. The company is authorized to issue 200,000,000 shares of Non-Voting Class B preferred stock. As of June 30, 2015, what is the outstanding amount received from the issuance of the Non-Voting Class B preferred stock?
3. The company has issued Convertible Class A preferred stock. Was any of the Convertible Class A stock converted during the fiscal year ended June 30, 2015? If so, what was it converted into?
4. Explain why the balance in "Common Stock, stated value $1 per share" is so small in relation to the balance in the "Additional paid-in capital" account.
5. What percentage of the company's total assets was financed through retained earnings as of June 30, 2015?