Question
Sammy's Pizza opened on January 1, Year 1. Sammy's reported the following for cash revenues and cash expenses for the years Year 1 to
Sammy's Pizza opened on January 1, Year 1. Sammy's reported the following for cash revenues and cash expenses for the years Year 1 to 3: Cash Year 1 Year 2 Year 3 Revenues $15,000 Cash Expenses $ 8,500 $25,000 $35,000 $11,500 $19,500 Required a. What would Sammy's Pizza report for net income and retained earnings for the Years 1, 2, and 3? c. Assume that Sammy's Pizza paid a $3,750 dividend to stockholders in Year 2. What would Sammy's Pizza report for net income and retained earnings for Year 2 and Year 3? Complete this question by entering your answers in the tabs below. Required A Required C What would Sammy's Pizza report for net income and retained earnings for the Years 1, 2, and 3? Year Year 1 Net Income Year 2 Year 3 Retained Earnings Required A Required C
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