In a Word document, write a short paragraph on what would have been the net impact on retained earnings in each of these years from the transactions listed in the data set. Ignore any tax effects. 3 Row Labels4 20155 20166 2017Sum of sales revenue Sum of total cost Sum of gross profit92149269.97 $ 55,386,893.4036762376.57113493261.6 $ 68,159,337.82129179569 $ 77,589,371.3145333923.8151590197.66157359960.8 $ 94,459,814.977 20188 Grand Total62900145.84492182061.4 $ 295,595,417.50196586643.910

The profit or loss of a firm affects the stockholders' equity at the end of the accounting period.…

3 Row Labels Sum of sales revenue Sum of total cost Sum of gross profit 92149269.97 $ 55,386,893.40 4 2015 5 2016 6 2017 7 2018 8 Grand Total 36762376.57 113493261.6 $ 68,159,337.82 45333923.81 129179569 $ 77,589,371.31 51590197.66 157359960.8 $ 94,459,814.97 62900145.84 492182061.4 $ 295,595,417.50 196586643.9

3 Row Labels Sum of sales revenue Sum of total cost Sum of gross profit 92149269.97 $ 55,386,893.40 4 2015 5 2016 6 2017 7 2018 8 Grand Total 36762376.57 113493261.6 $ 68,159,337.82 45333923.81 129179569 $ 77,589,371.31 51590197.66 157359960.8 $ 94,459,814.97 62900145.84 492182061.4 $ 295,595,417.50 196586643.9

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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