During its first five years of operations, Della Manufacturing reports net income and pays dividends as follows. Year Net Income Dividends 1 $2,100 $1,700 2 2,700 1,000 3 3,600 2,100 4 4,200 1,800 5 8,800 2,500 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 Retained Earnings 1 2 3 4 5