xercise $10-10($Algo$)$ Calculate retained earnings each year $($LO$10-5)$

its first five years of operations, Monster Hats reports the following net income and dividends $($the first year is a net loss$).$

equired:

alculate the balance of Retained Earnings at the end of each year. $($Negative amounts should be indicated with a minus sign.$)$

$\backslash$table$[[$Year$,\backslash$table$[[$Net Income$],[($Loss$)$ for the$],[$Year$]],\backslash$table$[[$Dividends for$],[$the Year$]],\backslash$table$[[$Ending$],[$Retained$],[$Earnings$]]],[1,$$$(42,000),$$$,0],[2,60,000,0,],[3,92,000,33,000,],[4,124,000,33,000,],[5,178,000,35,000,]]$