Required information Skip to question [The following information applies to the questions displayed below.] The stockholders equity section of Your Nesting Place is presented here. YOUR NESTING PLACE Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value $5,600 Common stock, $1 par value 26,000 Additional paid-in capital 902,000 Total paid-in capital 933,600 Retained earnings 284,000 Treasury stock, 10,000 common shares (280,000) Total stockholders' equity $937,600 Based on the stockholders' equity section of Your Nesting Place, answer the following questions. Remember that all amounts are presented in thousands. 4.

If retained earnings at the beginning of the period was $246 million and $26 million was paid in dividends during the year, what was the net income for the year? (Enter your answer in millions (i.e., 5,000,000 should be entered as 5).)