Earned revenue 462,500
Incurred expenses 370,000 (excluding income tax)
Income tax rate 20%
Dividends 1,400

This is the first year of operation

Calculate beginning and ending retained earnings

Please start your own thread for you question. Continually tagging onto other people's just creates long threads with irrelevant stuff and keeps old threads alive. I've moved yours to its own thread.

Beginning Retained Earnings
+ Net Income
- Dividends
= Ending Retained Earnings

And you also have to get the net income by applying the tax rate to the income before tax.