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Prepare the statement of retained earnings for the year

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Question - Cooper Industries, Inc. began 2021 with retained earnings of $25.32 million. During the year it paid dividends of $0.35 per share to 2 million common stockholders. Preferred stockholders, holding 500,000 shares, were paid dividends of $0.75 per share. The firm had a net profit after taxes of $5.15 million. Prepare the statement of retained earnings for the year ended December 31, 2021.

Reference no: EM133027977

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