1. Below is a table showing Revenues and Expenses, and Dividends declared and paid during 2018, 2019, and 2020 for Magpie Electricals:

Year	Revenues	Expenses	Dividends
2018	$98,910	$103,570	$0
2019	$108,450	$105,190	$250
2020	$117,820	$109,990	$315

Calculate Net Income (or loss) for each year and the balance of Retained Earnings as of the end of each year (assume Retained Earnings as of 1/1/2018 was $42,350). You must show all of your work to receive full credit.