3. If a listed company earned the net profit of USD10 million for the whole year in 2018. On 28 March 2019, the company decided to reduce the Dividend Payout Ratio from 40% for the financial year 2017 to 20% for the financial year 2018 because the Board of Directors would like to reserve more cash in the company to cope with the future uncertainties arising from the COVID-19 pandemic. What was the retained earning of the company as at 31 December 2019? Please show both of your calculation and the final