18 0.17 points LuLu Islands Incorporated has $60 million in common stock and $25 million in retained earnings at the start of the year. During the year, LuLu reports net income of $15 million and paid dividends of $5 million. At the end of the year, LuLu still has $60 million in common stock. Required: Prepare a statement of stockholder's equity at the end of the year. Note: Enter your answers in millions. Beginning balance Add: Net income Less: Dividends Ending balance Answer is complete but not entirely correct. LuLu Islands, Incorporated Statement of Stockholders' Equity $ Common Stock 60,000,000 $ 60,000,000 Retained Earnings $ $ 25,000,000 15,000,000 X 5,000,000 x Total Stockholders' Equity X$ 85,000,000 X 35,000,000 15,000,000 X 5,000,000 X Return to question $ 95,000,000

LuLu islands incorporated has $60 million in common stock and $25 million in retained earning 5 at the start of the year. During the year, Lutu reports net income of $15 million and paid dividends of $5 million. At the end of the year, LuLu still has $60 mittion in common stock. Required: Prepore o statement of stockholder's equity at the end of the year Note: Enter your answers in millions