Question 9 A company had the following revenues, expenses and dividends in its first three years of operations: Year 3 Year 1 Year 2 $12,000 $20,000 $30,000 Revenues $7,500 $14,000 $21,500 Expenses $1,000 $2,000 $3,000 Dividends What is the balance in Retained Earnings at the end of the first year? Question 10 A company had the following revenues, expenses and dividends in its first three years of operations: Year 3 Year 1 Year 2 $30,000 Revenues $12,000 $20,000 $7,500 $14,000 $2,000 $21,500 Expenses Dividends $1,000 $3,000 What is the balance in Retained Earnings at the end of the third year