Business, 16.06.2020 17:57, Kkampudiaa

During its first five years of operations, Red Raider Consulting reports net income and pays dividends as follows: Year Net Income Dividends Retained Earnings
1 $1,700 $ 600
2 $ 2,200 $ 600
3 $ 3,100 $ 1,500
4 $ 4,200 $ 1,500
5 $5,400 $1,500
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.

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During its first five years of operations, Red Raider Consulting reports net income and pays dividen...