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Mr. Huskers Tuxedos Corp. began the year 2012 with $266 million in retained earnings. The firm earned net income of $38 million in 2012 and

Mr. Huskers Tuxedos Corp. began the year 2012 with $266 million in retained earnings. The firm earned net income of $38 million in 2012 and paid dividends of $5 million to its preferred stockholders and $19 million to its common stockholders.

What is the year-end 2012 balance in retained earnings for Mr. Huskers Tuxedos?

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