$4$

$1$

Balance of Retained Earnings, December $31,2017$

$-$$$25\mathrm{.}0$ million

Plus: Net Income for $2018$

$60\mathrm{.}0$ million

Less: Cash Dividends Paid

Preferred Stock

$$5\mathrm{.}0$ million Common Stock

$?$ million

Total Cash Dividends Paid

million

Balance of Retained Earnings, December $31,2018$

$ $10\mathrm{.}0$millin

Multiple Choice

$$90\mathrm{.}0$ million

$$ $$25\mathrm{.}0$ million

$$70\mathrm{.}0$ million

$$ $$20\mathrm{.}0$ million