Question

Homework: Chapter 1 Post-Homework Save Score: 0 of 12 pts 2 of 8 (8 complete HW Score: 73.23%, 73.23 of 100 pts X E1-22A (similar to) Requirements Nelson Company's comparative balance sheet at January 31, 2019 and 2018, reports the Click the icon to view the comparative balance sheet For each station, 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 income or not loss during the year ended January 31, 2019 1. Nelson issued $3 million of stock and declared no dividends 2. Nelson issued no stock but declared dividends of $4 million 3. Nelson issued $10 million of stock and declared dividends of $27 million The following are three situations related Nelson Company's issuance of stock and deci Read the requirements Total stockholders' equity January 31, 2018 Add Issuance of stock Not income Less Dividends declared Net loss Total stockholders' equity January 31, 2019 Print Dono 2019 2018 Enter any number in the edit fields and then click Check Answer Totale 2 parts CAL 2 Print Done

Answer 1

Nelson Company (in million $) Situation #1 Situation #2 Situation #3 Total stockholder's equity, January 31, 2018 33 33 33 Add: Issuance of stock 10 Net income Less Dividends -4 -27 Net Loss 17 24 37 Total stockholder's equity, January 31, 2019 53 53 53 49 - 16 = 33 ; 73 - 20 = 53 53 - 33 - 3 = 17 53 +4-33 = 24 53 + 27-10 - 33 = 37