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Exercise 10-10 (Algo) Calculate retained earnings each year (LO10-5) In its first five years of operations, Monster Hats reports the following net income and dividends (the first year is a net loss). Required: Calculate the balance of Retained Earnings at the end of each year. (Negative amounts should be indicated with a minus sign.) Divine Apparel has 2,100 shares of common stock outstanding. On October 1 , the company declares - 50.75 per share dividend to stockholders of record on October 15 . The dividend is poid on October 31 . Record alf transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the declaration of cash dividends. Whe inter dehict before crosts