Great City Builders, Inc., balance sheet data at May 31, 2012, and June 30, 2012, follow:

Requirement
1. Following are three situations about stockholders€™ investments and dividends of the business during June. For each situation, compute the amount of net income or net loss during June 2012.
a. The company issued $6,000 of common stock and paid no dividends.
b. The company issued no common stock. It paid dividends of $10,000.
c. The company issued $18,000 of common stock and paid dividends of$20,000.

Junc 30, 2012 May 31, 2012 Total assets $177,000 122,000 $213,000 144,000 Total liabilitics