Sammy's Pizza opened on January 1, 2018. Sammy's reported the following for cash revenues and cash expenses
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Question:
Sammy's Pizza opened on January 1, 2018. Sammy's reported the following for cash revenues and cash expenses for the years 2018 to 2020:
Required:
a. What would Sammy's Pizza report for net income and retained earnings for the years 2018, 2019, and 2020?
c. Assume that Sammy's Pizza paid a $6,500 dividend to stockholders in 2019. What would Sammy's Pizza report for net income and retained earnings for 2019 and 2020?
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date: