We Store For You Ltd.'s comparative balance sheets at December 31, 2014, and December 31, 2013, report

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We Store For You Ltd.'s comparative balance sheets at December 31, 2014, and December 31, 2013, report the following (in millions):
We Store For You Ltd.'s comparative balance sheets at December

Requirements
Below are three situations about We Store For You's issuance of shares and payment of dividends during the year ended December 31, 2014. For each situation, use the accounting equation and statement of retained earnings to compute the amount of We Store For You's net income or loss during the year ended December 31, 2014.
1. We Store For You issued shares for $2 million and paid no dividends.
2. We Store For You issued no shares and paid dividends of $3 million.
3. We Store For You issued shares for $11 million and paid dividends of $2 million

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Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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