In its first five years of operations, Monster Hats reports the following net income and dividends (the first year is a net loss). Required: 8 year. Calculate the balance of Retained Earnings at the end of each Note: Negative amounts should be indicated with a minus sign. Net Income Ending Dividends for Year (Loss) for the Retained the Year Year Earnings 1 $ (44,000) $ 0 2 59,000 0 3 93,000 23,000 4 130,000 23,000 5 155,000 36,000