Thelma and Louie, Inc., started the year with a balance of retained earnings of $549 million and ended the year with retained earnings of $598 million. The company paid dividends of $39 million to the preferred stockholders and $79 million to common stockholders. Calculate Thelma and Lowle's net income for the year. (Enter your answer in millions of dollars.) Net income million Help Consider a firm with an EBIT of $854,000. The firm finances its assets with $2.540,000 debt (costing 79 percent and is a tax deductible) and 440,000 shares of stock selling at $5.00 per share. To reduce the firm's risk associated with this financial leverage, the firm is considering reducing its debt by $1,000,000 by selling an additional 240,000 shares of stock. The firm's tax rate is 21 percent The change in capital structure will have no effect on the operations of the firm. Thus, EBIT will remain at $854,000. Calculate the change in the firm's EPS from this change in capital structure. (Do not round intermediate calculations and round your final answers to 2 decimal places.) EPS before EPS after Difference