net income for the year

The stockholders' equity section of Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value Common stock, $1 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock, 12,000 common shares Total stockholders' equity $ 4,600 16,000 401,000 421,600 274,000 (216,000) $ 479,600 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 $236 million and $16 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (.e., 5,000,000 should be entered as 5). Net Income milion