Cooper Industries, Inc., began 2015 with retained earnings of $25.37 million. During the year it paid four quarterly dividends of 0.33 per share to 2.68 million common stockholders. Preferred stockholders, holding 502,000 shares, were paid two semiannual dividends of $0.73 per share. The firm had a net profit after taxes of $4.94 million. Prepare the statement of retained earnings for the year ended December 31, 2015.

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)