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E2.7. Using Accounting Relations to Check Errors (Hard) A chief executive reported the following numbers for fiscal year 2012 to an annual meeting of
E2.7. Using Accounting Relations to Check Errors (Hard) A chief executive reported the following numbers for fiscal year 2012 to an annual meeting of shareholders (in millions): Revenues Total expenses, including taxes Other comprehensive income Total assets, end of year Total liabilities, end of year Dividends to shareholders Share issues $ 2,300 1,750 (90) 4,340 1,380 400 900 150 19,140 Share repurchases Shareholders' equity, beginning of year Show that at least one of these numbers must be wrong because it does not obey accounting relations.
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