E2.12. Find the Missing Numbers in Financial Statements: General Motors Corporation (Medium) General Motors ended its 2007 year with shareholders' equity of -$37,094 million at

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E2.12. Find the Missing Numbers in Financial Statements: General Motors Corporation (Medium) General Motors ended its 2007 year with shareholders' equity of -$37,094 million at December 31 (yes, negative equity!). Six months later, at June 30, 2008, it reported -$56,990 million in equity after paying a dividend of $283 million to shareholders. There were no other transactions with shareholders.

a. What was comprehensive income for the six months?

b. The income statement reported a loss of $18,722 million for the six months. What was "other comprehensive income" Total expense and other losses in the income statement, including taxes, were 560,895 million. What was revenue for the six months?

d. The firm reported $148,883 million of total assets at the end of 2007 and $136,046 at June 30, 2008. What were total liabilities at these two dates?

e. How can a firm have negative equity? Real World Connection Exercises 4.10 and 5.16 also cover General Motors.