Question

Wells Fargo & Company, headquartered in San Francisco, is one of the nation’s largest financial institutions. Suppose it reported the following selected accounts (in millions) as of December 31, 2017.

Retained earnings		$ 41,800
Preferred stock		8,900
Common stock—$1 2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares		9,190
Treasury stock—67,346,829 common shares		( 2,480	)
Paid-in capital in excess of par value—common stock		53,800
Accumulated Other Comprehensive Income		8,290

Prepare the stockholders’ equity section of the balance sheet for Wells Fargo as of December 31, 201

Answer 1

WELLS FARGO & CO.

partial balance sheet

December 31 2017

(In millions)

Shareholder's equity: Paid in capital: Capital stock: Preferred stock 8900 Common stock, 6000000000 authorised, 5245971422 issued and 5178624593 shares outstanding 9190 Total capital stock 18090 Additional paid in capital: In excess of par value - common stock 53800 Total paid in capital 71890 Retained earning 41800 Total paid in capital and retained earning 113690 Accumulated other comprehensive income 8290 Less: treasury stock -( 67346829 shares) (2480) Total stock holder's equity 119500

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