Statement of retained earnings e10A. aCCoUnting ConneCtion ? Information from Mrs. Shah’s… 1 answer below »

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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