Winkler, Inc. s comparative balance sheet at January 31, 2011, and 2010, reports (in millions):RequirementsThree situations about Winkler’s issuance of stock and payment of dividends during the year ended January 31, 2011, follow. For each situation, use the accounting equation and the statement of retained earnings to compute the amount of Winkler’s net income or net loss during the year ended January 31, 2011.1. Winkler issued $15 million of stock and paid no dividends.2. Winkler issued no stock but paid dividends of $11 million.3. Winkler issued $90 million of stock and paid dividends of $35million.
Winkler Inc s comparative balance sheet at January 31 2011