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Example 5: The 2016 Form 10-K of Pacific Gas & Electric Corporation includes the following information in the income statement. Compute the missing amounts. PG&E CORPORATION Consolidated Statements of Income (Dollars and shares in millions, except per share amounts) For the year ended December 31, 2016 2015 2014 Net income $1,407 $888 $1,450 Preferred stock dividends $14 $14 Average common shares outstanding, basic 499 468 Basic eamings per common share $1.81 $3.07

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