Webaccounting principles, 15th edition by jerry weygandt, paul kimmel, and jill mitchell provides a practical introduction to introductory accounting from the sole proprietor. Webfinancial and managerial accounting, 4 th edition, provides students with a clear introduction to the fundamental financial and managerial concepts needed for anyone. Webthe income statement, commonly called a profit and loss (p&l) statement, measures the earnings of an entity’s operations over a given period of time, such as a quarter or a year. Retained earnings are the amount which is left after distribution of dividends and…