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Nelson Company's comparative balance sheet at January 31, 2019, and 2018, reports the following (in millions): (Click the icon to view the comparative balance sheet.)
Nelson Company's comparative balance sheet at January 31, 2019, and 2018, reports the following (in millions): (Click the icon to view the comparative balance sheet.) The following are three situations related Nelson Company's issuance of stock and declaration and payment of dividends during the year ended January 31, 2019. Read the requirements Begin by reviewing the labels for the change in stockholders' equity and then enter the amounts for each situation. (Enter an amount in each innut area Innut a "0" when there is no amount to be entered Enter amounts in millions Use a minus sign or parentheses when entering net losses or numbers to be subtracted.) - X Data Table Situation #1 Situation #2 Situation #3 Total stockholders' equity, January 31, 2018 Add: Issuance of stock 2019 2018 Net income Total assets $ 71 $ 48 Less: Dividends declared Total liabilities 24 13 Net loss Total stockholders' equity, January 31, 2019 Requirements Print Done Enter any number in the edit fields and then continue to the next question. 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 Nelson's net loss during the year ended January 31, 2019. 1. Nelson issued $7 million of stock and declared no dividends. 2. Nelson issued no stock but declared dividends of $15 million 3. Nelson issued $10 million of stock and declared dividends of $22 million
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