Below is the common equity section (in millions) of Tim Hortons last two year-end balance sheets:

	2012		2011
Common share	$1,000		$2,000
Retained earnings	2,000		2,340
Total common equity	$3,000		$4,340

Tim Hortons has never paid a dividend to its common shareholders. Which of the following statements is correct?

	a.	The companys total assets decreased from 2011 to 2012.
	b.	The company has a net loss in 2012.
	c.	The companys net income in 2012 was lower than in 2011.
	d.	Tim Hortons issued common stock in 2012.