4 of 5 Required information (The following information applies to the questions displayed below.) boed The stockholders equity section of Velcro World is presented here OK VELCRO WORLD Balance Sheet (partial) (and shares in thousands) Stockholders' equity Preferred stock, 51 par value Comson stock, 1 par value Additional pald.in capital Total paid in capital Retained earnings Treasury stock, 10.000 connor shares Total stockholders' equity 5.900 29.000 1.095,200 1.130,100 287,000 (10.000) $1,107, 100 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands 4. If retained earnings at the beginning of the period was $249 million and $29 milion was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (ie., 5,000,000 should be entered as 5)) Not income millon