Comprehensive income & Other IncomeGeneral 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?