Statement of Retained Earnings Tricycle, Corp. began the year 2008 with $25 million in retained earnings. The firm earned net income of $8 million in 2008 and paid $1.1 million to its preferred stockholders and $3.1 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Tricycle? Multiple Choice $28.8 million $33 million O $25 million o (0) $37.2 million