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Exercise 1-24A (Algo) The closing process LO 1-9 Sammy's Pizza opened on January 1, Year 1. Sammy's reported the following for cash revenues and cash expenses for the years Year 1 to 3: Year 1 Year 2 Year 3 Cash Revenues $17,000 $27,000 $37,000 Cash Expenses $ 9,500 $12,500 $20,500 Required a. What would Sammy's Pizza report for net income and retained earnings for the Years 1, 2, and 3? c. Assume that Sammy's Pizza paid a $4,250 dividend to stockholders in Year 2. What would Sammy's Pizza report for net income and retained earnings for Year 2 and Year 3? Complete this question by entering your answers in the tabs below. Required A Required C What would Sammy's Pizza report for net income and retained earnings for the Years 1, 2, and 3? Year Year 1 Net Income Year 2 Year 3 Retained Earnings < Required A Required C > Exercise 1-24A (Algo) The closing process LO 1-9 Sammy's Pizza opened on January 1, Year 1. Sammy's reported the following for cash revenues and cash expenses for the years Year 1 to 3: Cash Revenues Year 1 Year 2 Year 3 $17,000 $27,000 $37,000 Cash Expenses $ 9,500 $12,500 $20,500 Required a. What would Sammy's Pizza report for net income and retained earnings for the Years 1, 2, and 3? c. Assume that Sammy's Pizza paid a $4,250 dividend to stockholders in Year 2. What would Sammy's Pizza report for net income and retained earnings for Year 2 and Year 3? Complete this question by entering your answers in the tabs below. Required A Required C Assume that Sammy's Pizza paid a $4,250 dividend to stockholders in Year 2. What would Sammy's Pizza report for net income and retained earnings for Year 2 and Year 3? Year Year 2 Net Income Retained Earnings Year 3 < Required A Required C

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