Problem: General Motors ended its 2007 year with shareholders'' equity of -$37,094 million at December. Six months later, at June 30, 2008, it reported -$56,990 million in equity after paying a dividend of $283 million to shareholders. Here are 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 six months. What was "other comprehensive income"?
c) How can a firm have negative equity?