The Procter & Gamble Company. The 2015 annual report of The Procter & Gamble Company(P&G) is available at:http://us.pg.com/annualreport2017/annual-report.html#/Financialhttp://www.pginvestor.com/Cache/1001226614.PDF?O=PDF&T=&Y=&D=&FID=1001226614&iid=4004124After reviewing the P&G’s annual report, respond to the following questions:1. What types of equity securities does P&G have outstanding? What is their par or stated value, how many shares are authorized, and how many shares are outstanding at year-end 2014 and 2015?2. What percentage of P&G’s assets are debt-financed versus equity-financed in 2014 and 2015? Why do you think the company has followed this strategic financing policy? What is P&G’s cost of debt in 2015?3. How many common shares did P&G repurchase in 2015 and at what aggregate price?4. How many common shares were issued in 2015 to employees under P&G’s employee stock option plan? If P&G had utilized the fair value method to account for its employee stock options, what would have been the effect on P&G’s basic and diluted EPS for 2015?
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