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Calculate thelma and louie net income

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Thelma and Louie, Inc., started the year with a balance of retained earnings of $543 million and ended the year with retained earnings of $589 million. The company paid dividends of $35 million to the preferred stockholders and $88 million to common stockholders.

Calculate Thelma and Louie's net income for the year. (Enter your answer in millions of dollars.)

Reference no: EM131382968

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