Green City Builders' balance sheet data at May 31, 2016, and June 30, 2016, follow:

For each of the following situations with regard to common stock and dividends of a corporation, compute the amount of net income or net loss during June 2016.
a. The company issued $7,500 of common stock and paid no dividends.
b. The company issued no common stock. It paid cash dividends of $13,000.
c. The company issued $20,000 of common stock and paid cash dividends of $18,000.

May 31, 2016 188,000 122,000 June 30, 2016 244,000 88,000 Total assets Total liabilities