Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the follow

Sumter Pumps Corporation, a manufacturer of industrial pumps, reports the following re- sults for the year ended January 31, 2016: Retained earnings, February 1, 2015 ………………………. $59,650,000 Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,160,000 Cash dividends declared ………………………………………… 1,000,000 Stock dividends declared ……………………………………….. 2,600,000   ?? Prepare retained earnings statement for the fiscal year ended January 31, 2016.