Information from Mrs. Shah's Cookies' statement of retained earnings for 2014 follows. Dividends.................................................$ 0 Net income..................................................? Retained
Question:
Dividends.................................................$ 0
Net income..................................................?
Retained earnings, January 31, 2014............159,490
Retained earnings, January 31, 2013............102,403
Prepare Mrs. Shah's Cookies' statement of retained earnings. You will need to solve for the amount of net income. What is retained earnings? Why might the board of directors decide not to pay any dividends?
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-1133940593
10th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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