For each of the following events affecting the stockholders equity of Willis, indicate whether the event would:

Question:

For each of the following events affecting the stockholders’ equity of Willis, indicate whether the event would: increase retained earnings (IRE), decrease retained earnings (DRE), increase (ICS), or decrease (DCS).
_____ (a) Issued new shares of .
_____ (b) Paid a cash dividend.
_____ (c) Reported net income of $75,000.
_____ (d) Reported a net loss of $20,000.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...