Calculate thelma and louies net income for the year

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Reference no: EM132027549

Thelma and Louie, Inc., started the year with a balance of retained earnings of $552 million and ended the year with retained earnings of $604 million.

The company paid dividends of $42 million to the preferred stockholders and $82 million to common stockholders.

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

Reference no: EM132027549

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