Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The stockholders' equity section of ConocoPhillips as of December 31, 2018 is provided below. All dollar amounts, except per-share amounts, are shown in millions. January

The stockholders' equity section of ConocoPhillips as of December 31, 2018 is provided below. All dollar amounts, except per-share amounts, are shown in millions.

January 1 balances (dollars in millions)
Common stock (2,500,000,000 shares authorized and 1,791,637,434 shares issued; $0.01 par value) $18
Capital in excess of par 46,879
Treasury stock (at cost; 653,288,213 shares) 42,905
Retained earnings 34,010
Accumulated other comprehensive income (loss) (6,063)
Total stockholders' equity $31,939

Use the information above to answer the following questions. a. At what average price has the company issued its common stock?

Question Blank 1 of 4

b. How many common shares are outstanding?

Question Blank 2 of 4

c.At what average cost did the company pay to acquire its treasury stock?

Question Blank 3 of 4

d.Suppose that, in the following year, the company generates net income of $6,180 million and pays dividends of $1.60 per common share outstanding. No other transactions impact retained earnings. What is the balance of retained earnings at the end of the year (in millions)?

Question Blank 4 of 4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

10th Edition

B010IKDQZM

More Books

Students also viewed these Accounting questions