During its first five years of operations, Della Manufacturing reports net income and pays dividends as follows. Year Net Income Dividends $2,100 $1,100 2,800 700 3,700 2,100 4,300 1,500 5 7 ,100 2,300 UWN Calculate the balance of retained earnings at the end of each year. Note that retained earnings will always equal $0 at the beginning of year 1. Year Retained Earnings