1. The following is a condensed version of the statement of shareholders' equity for Dell Computer Corporation for fiscal year ending January 31, 2003 (in millions of dollars):
Balance at February 1, 2002 4,694
Net income 2,122
Unrealized gain on debt investments 26
Unrealized loss on derivative instruments (101)
Foreign currency translation gain 4
Comprehensive income 2051
Shares issued on exercise of options, 418
including tax benefits of $260
Repurchase of 50 millions shares (2290)
Balance of January 31, 2003 4873
Other information: (1) Dell's tax rate is 35%; (2) the repurchase occurred when the stock traded at $28 per share.
Prepare a reformulated statement of shareholders' equity for 2003 for Dell Computer Corporation. The reformulated statement should identify comprehensive income.
Please see the attached file.
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