question 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. Answer is not complete. Year Dividends Retained Earnings $ $ $ 2 820 Net Income 1,350 1,850 2.400 3,500 4,700 3 530 530 1,150 1,150 1.150 4 5