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Calculate thelma and louie net income for the year

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Thelma and Louie, Inc., started the year with a balance of retained earnings of $547 million and ended the year with retained earnings of $594 million. The company paid dividends of $37 million to the preferred stockholders and $77 million to common stockholders.

Calculate Thelma and Louie's net income for the year.

 

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The company's net income needs to be calculated. The opening and closing balance of retained earnings is there along with cash dividends.

Reference no: EM13287684

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