Most Company's comparative balance sheet at January 31, 2025, and 2024, reports the following (in millions):
View the comparative balance sheet.
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 input field. Enter a 0 for any zero balances.
Enter amounts in millions. Use a minus sign or parentheses when entering net losses or numbers to be subtracted.)
Situation 1: Most issued $5 million of stock and declared no dividends.
Situation 1
Total stockholders' equity, January 31, 2024
$
40
Add: Issuance of stock
5
Add: Net income
16
Less: Dividends declared
0
0
Less: Net loss
$
61
Total stockholders' equity, January 31, 2025
Situation 2: Most issued no stock but declared dividends of $4 million.
Situation 2
Total stockholders' equity, January 31, 2024
$40
$0
Add: Issuance of stock
$13
Add: Net income
Less: Dividends declared
$4
$0
Less: Net loss
$61
Total stockholders' equity, January 31, 2025
pre help.
X
Comparative Balance Sheet
2025 2024
Total assets
$
80 $
52
Total liabilities
19
12
-
X
Requirements
The following are three situations related Most Company's issuance of stock and declaration
and payment of dividends during the year ended January 31, 2025. For each situation, use the
accounting equation and what you know about stockholders' equity, common stock, and
retained earnings to calculate the amount of Most's net income or net loss during the year
ended January 31, 2025.
1. Most issued $5 million of stock and declared no dividends.
2. Most issued no stock but declared dividends of $4 million.
3. Most issued $10 million of stock and declared dividends of $22 million.
