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Statement of Retained Earnings Triplette, Corp. began the year 2008 with $5.03 million in retained earnings. The firm earned net income of $10.08 million in

Statement of Retained Earnings Triplette, Corp. began the year 2008 with $5.03 million in retained earnings. The firm earned net income of $10.08 million in 2008 and paid $2.08 million to its preferred stockholders and $1.08 million to its common stockholders. What is the year-end 2008 balance in retained earnings for Triplette?

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