Soccer Starz, Inc. started the year with a balance of retained earnings of $25 million and ended the year with retained earnings of $32 million. The company paid dividends of $2 million to the preferred stock holders and $6 million to common stock holders. What was Soccer Starz's net income for the year? A. $7 million B. $15 million C. $40 million D. $49 million 15. 16. Due to poor spending habits, Ricky has accumulated $10,000 in credit card debt. He has missed several payments and now the annual interest rate on the card is 18.95 percent! If he pays $175 per month on the card, how long will it take Ricky to pay off the card? A. 121.5 months B. 148.50 months C. 162.5 months D. Ricky never pays off the card. 16. Due to poor spending habits, Ricky has accumulated $10,000 in credit card debt. He has missed several payments and now the annual interest rate on the card is 18.95 percent! If he pays $175 per month on th card, how long will it take Ricky to pay off the card? A. 121.5 months B. 148.50 months C. 162.5 months D. Ricky never pays off the card