During its first five years of operations, Della Manufacturing reports net income and pays dividends as follows. Year Net Income Dividends 1 $1,100 2 1,300 3 2,000 4 2,200 5 3,500 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 1 2 $2,100 2,200 3,100 4,000 6,200 3 4 5 Retained Earnings

During its first five years of operations, Della Manufacturing reports net income and pays dividends as follows. 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