Which of the following amounts appears on both the statement of retained earnings and the balance sheet? ending retained earnings total assets total revenues net income Bubble Wraps Company receives cash from a stockholder. John Trent, and issues common stock to him. The two accounts involved in this transaction are_. the Bubble Wraps Liability account and the Cash account the Cash account and the Common Stock account the Equity account and John, Payables account the Bubble Wraps Equity account and John, Receivables account the income statement is also called the statement of financial position. True False Which of the following financial statements reports an increase or decrease in net cash during the time period covered? income statement statement of retained earnings statement of cash flows cash budget the total assets and the total liabilities of Smart Financial Services are shown below. The company issued no common stock and paid no dividends during the year. What was the amount of net income for the year? $75,000 $45,000