Problem 10-4A Analyze the stockholders' equity section (LO10-7) [The following information applies to the questions displayed below.] 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 $ 5, 400 Common stock, $1 par value 24,000 Additional paid-in capital 784, 200 Total paid-in capital 813, 600 Retained earnings 282, 000 Treasury stock, 11,000 common shares (286, 000) ces Total stockholders' equity $ 809 , 600 Based on the stockholders' equity section of Velcro World, answer the following questions. Remember that all amounts are presented in thousands. Problem 10-4A Part 4 4. If retained earnings at the beginning of the period was $244 million and $24 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in million (i.e., 5,000,000 should be entered as 5).) Net income million