Question: Omicron Products Company reported the following
Omicron Products Company reported the following stockholders’ equity on its balance sheet:
Requirements
1. What caused Omicron’s preferred stock to decrease during 2013? Cite all possible causes.
2. What caused Omicron’s common stock to increase during 2013? Identify all possible causes.
3. How many shares of Omicron’s common stock were outstanding at December 31, 2013?
4. Omicron’s net income during 2013 was $1,470 million. How much were Omicron’s dividends during the year?
5. During 2013, Omicron sold no treasury stock. What average price per share did Omicron pay for the treasury stock that the company purchased during the year?
Transcribed Image Text:
Stockholders' Equity December 31, (Dollars and shares in millions) 2013 2012 Preferred stock-$1.00 par value; authorized 70 shares; Convertible Preferred stock; issued and outstanding: 2013 and 2012-8 and 16 shares, respectively Common stock-$5 per share par value; authorized 1,100 shares; issued: 2013 and 2012–400 and 300 shares, respectively 8. $ 16 2,000 1,500 Additional paid-in capital Retained earnings 2,800 1,950 6,260 4,996 Treasury stock, common-at cost 2013-19 shares; 2012-4 shares Total Stockholders' Equity Total liabilities and stockholders' equity (342) 10,726 $51,323 (60) 8,402 $47,202 %24
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