When comparing a retail business to a service business, the ...

[JMatthes]

When comparing a retail business to a service business, the financial statement that changes the least is the
 a. balance sheet
  b. income statement
  c. statement of owner's equity
  d. statement of cash flows

Question 2

Mia Hero, Inc had a retained earnings balance of 7,000 on December 31, 2011. For the year 2012, sales revenues are 15,000 and expenses are 13,000. If no dividend is declared or paid in 2012, retained earnings at December 31, 2012 equals ________.
 
  A) 9,000
  B) 10,000
  C) 35,000
  D) some other amount

[LP]

Answer to Question 1

c

Answer to Question 2

A

[JMatthes]

YES! Correct, THANKS for helping me on my review

[zacnyjessica]

Thanks for the timely response, appreciate it