Preparing an income statement and statement of, Finance Basics

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Preparing an income statement and statement of

Question: Preparing an Income Statement and Statement of Shareholders' Equity (Medium) From the following information for the year 2012, prepare an income statement and a statement of shareholders' equity, under GAAP rules, for a company with shareholders' equity at the beginning of2012 of $3,270 million. Amounts are in millions.

Also calculate comprehensive income and net payout. Income taxes are negative. How can this be?

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