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During 2021, Cengage Industry paid out $33,255 of common dividends. It ended the year with $215,200 of retained earnings versus the prior year's retained earnings

During 2021, Cengage Industry paid out $33,255 of common dividends. It ended the year with $215,200 of retained earnings versus the prior year's retained earnings of $159,600. How much net income did the firm earn during the year? (Show all calculations.)

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