Question

Sammy’s Pizza opened on January 1, 2014. Sammy’s reported the following for cash revenues and cash expenses for the years 2014 to 2016:


Required
a. What would Sammy’s Pizza report for net income and retained earnings for the years 2014, 2015, and 2016?
b. Explain the difference between net income and retained earnings.
c. Assume that Sammy’s Pizza paid a $5,000 dividend to stockholders in 2015. What would Sammy’s Pizza report for net income and retained earnings for 2015 and2016?


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  • CreatedMay 22, 2014
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