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What was time net income

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Reference no: EM132942943

Question - The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2021 and 2020, reported the following data:

 ($ in millions) 2021 2020

Common stock, $1 par per share $638 $613

Paid-in capital-excess of par 374 313

Retained earnings 654 613

During 2021, Time declared and paid cash dividends of $103 million. The company also declared and issued a small stock dividend. No other changes occurred in shares outstanding during 2021. What was Time's net income for 2021?

Reference no: EM132942943

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