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

Question

Calculate thelma and louie's net income to common stockholders for the year. (Enter in millions of dollars)
Net Income in millions.

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Answer 1

(547+594)/(37-77)= Net Income: $486.05 million dollars.

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