Statement of Retained Earnings Triplette, Corp. began the year 2008 with -$5 million in retained earnings. The firm earned net income of $10 million in 2008 and paid $2 million to its preferred stockholders and $1 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Triplette?

	$2 million
	$8 million
	$5 million
	$18 million