Question: The following is a statement of common shareholders equity with some numbers missing (in millions of dollars). Balance, December 31, 2007 ............... ? Net income
The following is a statement of common shareholders’ equity with some numbers missing (in millions of dollars).
Balance, December 31, 2007 ............... ?
Net income ....................... ?
Common dividends ................ (132)
Preferred dividends ................ (30)
Issue of shares .................. 155
Unrealized gain on debt security held .......... 13
Foreign currency translation loss ............ (9)
Balance, December 31, 2009 ................ ?
a. The market value of the equity was $4,500 million at December 31, 2008, and $5,580 million at December 31, 2009. At both dates, the equity traded at a premium of $2,100 million over the book of the common equity. What was net income for 2009?
b. Fill out the missing numbers in the equity statement and reformulate it to identify comprehensive income for the common shareholders for 2009.
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