In its first five years of operations, Monster Hats reports the following net income and dividends (the first year is a net loss).In its first five years of operations, Monster Hats reports the following net income and dividends (the first year is a net loss). Required: Calculate the balance of Retained Earnings at the end of each year. (Negative amounts should be indicated with a minus sign)

Net income(LOSS) for year Dividends for year Ending Retained Earnings ?

-30000 0

59000 0

98000 37000

120000 37000

164000 32000