A merchandiser's statement of retained earnings looks exactly like that of a service business.

Question

Quizplus · Accepted Answer

This is true. Both merchandisers and service businesses are types of companies that may have a statement of retained earnings that records the changes in the company's earnings over a given period. The statement typically includes the beginning retained earnings balance, any net income earned over the period, dividends paid to shareholders, and ending retained earnings balance. The format of this statement is generally the same across all types of businesses.

A Merchandiser's Statement of Retained Earnings Looks Exactly Like That