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 $19,000 $29,000 $39,000 Cash Expenses $10,500 $13,500 $21,500
Required:
a. What would Sammy's Pizza report for net income and retained earnings for the years 2018, 2019, and 2020?
b. Assume that Sammy's Pizza paid a $4,750 dividend to stockholders in 2019. What would Sammy's Pizza report for net income and retained earnings for 2019 and 2020?
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