Question

A retained earnings statement shows the same information as a corporation income statement.

a) true
b) false

Answer 1

a) True

Step-by-step explanation:

The retained earning statement records the beginning balance, net income or net loss, and any cash dividend paid to determine the ending balance

On the other hand, the income statement refer to that statement which shows the all expenses incurred and all revenues in order to find out the net loss or net income

So based on the above explanation, the given statement is true

Hence, the correct option is A.