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The TurtlesAreCute Company paid out $15 million in dividends in 2020. At the end of 2019, the balance sheet showed retained earnings of $265 million,

The TurtlesAreCute Company paid out $15 million in dividends in 2020. At the end of 2019, the balance sheet showed retained earnings of $265 million, and $272 million at the end of 2020. What was the net income for 2020? Show all work for full credit.

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