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Cooper Industries, Inc., began 2021 with retained earnings of $25.56 million. During the year it...

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Cooper Industries, Inc., began 2021 with retained earnings of $25.56 million. During the year it paid four quarterly dividends of $0.32 per share to 2.28 million common stockholders. Preferred stockholders, holding 506,000 shares, were paid two semiannual dividends of $0.76 per share. The firm had a net profit after taxes of $5.48 million. Prepare the statement of retained earnings for the year ended December 31, 2021

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