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(Solution) - Orbit Corporation reported the following stockholders equity da

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Orbit Corporation reported the following stockholders? equity data (all dollars in millions except par value per share):

Orbit earned net income of $2,920 during 2012. For each account except Retained Earnings, one transaction explains the change from the December 31, 2011, balance to the December 31, 2012, balance. Two transactions affected Retained Earnings. Give a full explanation, including the dollar amount, for the change in eachaccount.


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This question was answered on: Jul 11, 2017

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