eBook Problem Walk-Through Electronics World Inc. paid out $11.7 million in total common dividends and reported $100.1 milion of retained earnings at year-end. The prior year's retained earnings were $78.6 million What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000 Round your answer to the nearest dolar, if necessary