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Thelma and Louie, Inc., started the year with a balance of retained earnings of $541 million and ended the year with retained earnings of $582
Thelma and Louie, Inc., started the year with a balance of retained earnings of $541 million and ended the year with retained earnings of $582 million. The company paid dividends of $31 million to the preferred stockholders and $71 million to common stockholders. Calculate Thelma and Louies net income for the year
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