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What would sammys pizza report for net income and retained

Sammy's Pizza opened on January 1, 2013. Sammy's reported the following for cash revenues and cash expenses for the years 2013 to 2015:

1116_264-B-A-A-C (2324).png

Required:

a. What would Sammy's Pizza report for net income and retained earnings for the years 2013, 2014, and 2015?

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

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Accounting Basics: What would sammys pizza report for net income and retained

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