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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: Cash Revenues
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: Cash Revenues 2014 2015 2016 $ 15,000 $25,000 $35,000 Cash Expenses $ 8,500 $ 11,500 $19,500 Required a. What would Sammy's Pizza report for net income and retained earnings for the years 2014, 2015, and 2016? Year Net Income Retained Earnings 2014 2015 2016 c. Assume that Sammy's Pizza paid a $3,750 dividend to stockholders in 2015. What would Sammy's Pizza report for net income and retained earnings for 2015 and 2016? Year Net Income Retained Earnings 2014 2015 2016
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