please explain the answer.

7. A firm began operations on January 1, 2021, with contributed capital of $50,000. 2021 2022 Revenue - exper Revenue $425,000 $572,000 425ooo 22$ 50 Expense $225,600 $354,100 Dividends $ 45,100 $ 73,400 now What was Retained Earnings at the end of each of the years? - 2021 $154,300 $199,400 $204,300 $199,400 $154,300 2022 $144,500 $144,500 $348,800 $217,900 $298.800