During its first five years of operations, Red Raider Consulting reports net income and pays dividends as follows. Required: 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 Retained Earnings o AWN Net Income Dividends $ 750 $ 410 1,250 410 1,200 550 2,300 550 3,500 550 es