Retained Earnings represents past net income less past dividends; therefore, any balance in this account would be listed on the income statement.

Name: Retained Earnings represents past net income less past dividends; therefore, any balance in this account would be listed on the income statement.
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Question

Quizplus · Accepted Answer

Retained Earnings is a balance sheet account and does not appear on the income statement. It reflects the accumulated profits of a company that have not been distributed to shareholders as dividends.

Retained Earnings Represents Past Net Income Less Past Dividends; Therefore