NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of todays paper. In its annual report this year, NOW Inc. reported a net income of $116 million. Last year, the company reported a retained earnings balance of $595 million, whereas this year it increased to $700 million. How much was paid out in dividends this year?

$221 million

$6 million

$11 million

$60 million