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How much was paid out in dividends the year

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Problem 1: NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of today's paper. In its annual report this year, NOW Inc. reported a net income of $132 million. Last year, the company reported a retained earnings balance of $561 million, whereas this year it increased to $660 million. How much was paid out in dividends this year?

a. $170 million

b. $33 million

c. $231 million

d. $5 million

Reference no: EM132976699

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