Cooper Industries, Inc., began $2021$ with retained earnings of $$25\mathrm{.}38$ million. During the year it paid four quarterly dividends of $$0\mathrm{.}37$ per share to $3\mathrm{.}22$ million common stockholders. referred stockholders, holding $479,000$ shares, were paid two semiannual dividends of $$0\mathrm{.}73$ per share. The firm had a net profit after taxes of $$5\mathrm{.}15$ million. Prepare the statement retained earnings for the year ended December $31,2021.$

Complete the statement of retained earnings below: $($Round to the nearest dollar.$)$

Cooper Industries, Inc.

Statement of Retained Earnings

for the Year Ended December $31,2021$

Retained earnings balance $($January $1,2021)$

$(\frac{25380000}{\text{\$}})$

Plus Net profits after taxes $($for $2021)$

Less: Cash dividends $($paid during $2021)$

Preferred stock

S

Common stock

Total dividends paid

$

Retained earnings balance $($December $31,2021)$

$