At the beginning of its fiscal year on April 1, 2015, Olive Oils Corp. had a balance of $4,740,000 in its retained earnings account. The company generated its highest net income ever of $4,150,750, so it paid large dividends of $975,000 and $750,000 to its preferred and common shareholders, respectively. Prepare the 2015 fiscal year retained 2. At the beginning of its fiscal year on April 1, 2015, Olive Oils Corp. had a balance of $4,740,000 in its retained earnings account. The company generated its highest net income ever of $4,150,750, so it paid large dividends of $975,000 and $750,000 to its preferred and common shareholders, respectively. Prepare the 2015 fiscal year retained earnings statement for the company. 2