29 In its first five years of operations, a company reports the following net income and dividends (the first year is a net loss). Required: Calculate the balance of Retained Eamings at the end of each year. (Negative amounts should be indicated with a minus sig Net Income Ending Dividends for 015449 Year (Loss) for the Retained the Year Year Earnings . $ (38,000) 5 0 2 51,000 . 83,000 28,000 4 121,000 28,000 5 160,000 42,000