Cooper Industries, Inc., began

2019

with retained earnings of

$25.96

million. During the year it paid four quarterly dividends of

$0.32

per share to

2.72

million common stockholders. Preferred stockholders, holding

523,000

shares, were paid two semiannual dividends of

$0.78

per share. The firm had a net profit after taxes of

$5.11

million. Prepare the statement of retained earnings for the year ended December 31,

2019.

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, 2019
Retained earnings balance (January 1, 2019)			$
Plus: Net profits after taxes (for 2019)
Less: Cash dividends (paid during 2019)
Preferred stock	$
Common stock
Total dividends paid			$
Retained earnings balance (December 31, 2019)			$