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QUESTION
They ask you to explain how, prior to the recapitalization, the company had $2.0 billion of positive equity and now it's a $2.0 billion deficit?
They ask you to explain how, prior to the recapitalization, the company had $2.0 billion of positive equity and now it's a $2.0 billion deficit? What kind of explanation will that require in the financial statement footnotes? (Hint: focus on reporting under the historical cost principle and no change in ownership control).
