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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: 2018 2019
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: 2018 2019 2020 Cash Revenues Cash Expenses $20,000 $11,000 $30,000 $14,000 $40,000 $22,000 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 $5,000 dividend to stockholders in 2019. What would Sammy's Pizza report for net income and retained earnings for 2019 and 2020? Year Net Income Retained Earnings 2018 2019 2020 2018 2019 2020
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