Chan Itd started 2015 with an opening retained earnings balance of $2,340. It earned a net income of $14,890 during the year and paid a dividend to preferred shareholders amounting to $4,210 and to the equity shareholders worth $3,640. There was also a prior period adjustment of $2,400. The retained earnings at the end of the year 2015 will be calculated as below: Chan Ltd Statement of Retained Earnings At End of 2015 Particulars Amount (in $) Amount (in $)