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The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2018 and 2017, reported the following data: ($ in
The shareholders' equity section of Time Company's comparative balance sheets for the years ended December 31, 2018 and 2017, reported the following data: ($ in millions) 2018 2017 Common stock, $1 par per share $ 612 $ 600 Paid-in capital-excess of par 348 300 Retained earnings 628 600 During 2018, Time declared and paid cash dividends of $100 million. The company also declared and issued a stock dividend. No other changes occurred in shares outstanding during 2018. What was Time's net income for 2018? O $188 million $128 million O $38 million O $140 million
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