Pillser, Inc.’s, comparative balance sheet at January 31, 2019, and 2018, reports the following (in millions):

Requirements
The following are three situations related to Pillser’s issuance of stock and declaration and payment of dividends during the year ended January 31, 2019. For each situation, use the accounting equation and what you know from the chapter about stockholders’ equity, common stock, and retained earnings to calculate the amount of Pillser’s net income or net loss during the year ended January 31, 2019.

1. Pillser issued $3 million of stock and declared no dividends.

2. Pillser issued no stock but declared dividends of $4 million.

3. Pillser issued $20 million of stock and declared dividends of $8 million.

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2019 2018 $49 Total assets Total liabilities $72 23 17