Most, Inc.s comparative balance sheet at January 31, 2013, and 2012, reports the following (in millions): Requirements

Most, Inc.’s comparative balance sheet at January 31, 2013, and 2012, reports the following (in millions):

Requirements
Three situations about Most’s issuance of stock and payment of dividends during the year ended January 31, 2013, follow. For each situation, use the accounting equation and the statement of retained earnings to compute the amount of Most’s net income or net loss during the year ended January 31, 2013.
1. Most issued $4 million of stock and paid no dividends.
2. Most issued no stock but paid dividends of $4 million.
3. Most issued $10 million of stock and paid dividends of $50million.

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Total assets Total liabilities 2013 $35 12 2012 $31 7