Dawls Corporation Reported Stockholders' Equity on December 31 of the Prior

Dawls Corporation reported stockholders' equity on December 31 of the prior year as follows:
$\begin{array}{|l|r|}\hline\begin{array}{l}\text { Common stock, } \$ 5 \text { par value, } 1,000,000 \text { shares authorized, } 500,000 \text { shares } \\\text { issued }\end{array} & \$ 2,500,000 \\\hline \text { Contributed capital in excess of par, common stock } & 1,000,000 \\\hline \text { Retained earnings } & 3,000,000 \\\hline\end{array}$ The following selected transactions occurred during the current year:
Prepare a statement of retained earnings as of December 31 of the current year.