Cooper Industries, Inc., began 2015 with retained earnings of$25.41 million. During the year it paid four quarterly dividends of $0.39 per share to 2.74 million common stockholders. Preferred stockholders, holding 478,000 shares, were paid two semiannual dividends of $0.75 per share. The firm had a net profit after taxes of $5.09 million. Prepare the statement of retained earnings for the year ended December 31, 2015.