Question

Below is information from the statement of retained earnings of Mrs. Bell’s Pastry, Inc.
Dividends ..................... $ 0
Net income ................... ?
Retained earnings, January 31, 2011 ......... 159,490
Retained earnings, January 31, 2010 ......... 105,000
Prepare the statement of retained earnings for Mrs. Bell’s Pastry in good form. You will need to solve for the amount of net income. What are retained earnings? Why would the company’s board of directors decide not to pay any dividends to its owners?



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  • CreatedSeptember 10, 2014
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