ED eBook 1 Problem Walk-Through Electronics World Inc. paid out $13.5 million in total common dividends and reported $298.7 million of retained earnings at year-end. The prior year's retained earnings were $227 million. What was the net income? Assume that all dividends declared were actually paid. Write out your ansv completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. nswer $