3-4 STATEMENT OF STOCKHOLDERS' EQUITY In its most recent financial statements, Newhouse Inc. reported $50 million of net income and $810 million of retained earnings. The previous retained earnings were $780 million. How much in divi- dends were paid to shareholders during the year? Assume that all dividends declared were actually paid. MVA Henderson Industries has $500 million of common equity; its stock price is $60 per share; and its Market Value Added (MVA) is $130 million. How many common shares are currently outstanding? 3-5