The stockholders equity section of the balance sheet for Velcro World is presented here. VELCRO WORLD Balance Sheet (partial) ($ and shares in thousands) Stockholders' equity: Preferred stock, $1 par value $ 6,000 Common stock, $1 par value 30,000 Additional paid-in capital 1,164,000 Total paid-in capital 1,200,000 Retained earnings 288,000 Treasury stock, 11,000 common shares (352,000) Total stockholders' equity $ 1,136,000 Based on the stockholders equity section of the balance sheet for Velcro World, If retained earnings at the beginning of the period was $250 million and $30 million was paid in dividends during the year, what was the net income for the year?