Haggen Cruises Inc. reported the following results for the year ended October 31, 20Y9:

Retained earnings, November 1, 20Y8 ..... $11,775,000
Net income ....................................................... 2,232,000
Cash dividends declared ................................... 166,000
Stock dividends declared ................................... 285,000

Prepare a retained earnings statement for the fiscal year ended October 31, 20Y9.