Statement of retained earnings e10A. aCCoUnting ConneCtion ? Information from Mrs. Shah’s… 1 answer below »
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Statement of retained earnings
e10A. aCCoUnting ConneCtion ▶ Information from Mrs. Shah’s Cookies’ statement of retained earnings for 2014 follows.
Dividends
$ 0
Net income
?
Retained earnings, January 31, 2014
159,490
Retained earnings, January 31, 2013
102,403
Prepare Mrs. Shah’s Cookies’ statement of retained earnings. You will need to solve for the amount of net income. What is retained earnings? Why might the board of directors decide not to pay any dividends?
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