Cooper Industries, Inc., began 2015 with retained earnings of $24.67 million. During the year it paid four quarterly dividends of $0.39 per share to 2.45 million common stockholders. Preferred stockholders, holding 512,000 shares, were paid two semiannual dividends of $0.76 per share. The firm had a net profit after taxes of $4.67 million. Prepare the statement of retained earnings for the year ended December 31, 2015. 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, 2015 Retained earnings balance (January 1, 2015) Plus: Net profits after taxes (for 2015) Less: Cash dividends (paid during 2015) Preferred stock $ Common stock Total dividends paid Retained earnings balance (December 31, 2015) $