The following data are based on information in the 2019 annual report of Cracker Barrel Old Country Store. As of August 2, 2019, Cracker Barrel operated 660 restaurants and gift shops in 45 states. Dollar amounts are in millions.

Required
a. Calculate the company’s net income and retained earnings for 2018 and 2019.
b. Which increased (or decreased) by the greatest percentage amount: revenues or net income? Show your computations.
c. For each year, calculate the company’s net income as a percentage of its revenues. Show your computations.
d. Did the company perform better in 2018 or 2019? Explain your answer.

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Assets Liabilities Stockholders' equity Revenues Expenses Dividends Retained earnings at end of 2017 2019 $1,581 976 605 3,072 2,849 195 2018 $1,527 945 582 3,030 2,782 208 $ 493