Global Tech Solutions paid out $18.9 million in total common dividends and reported $160.3 million of retained earnings at year- end. The prior year's retained earnings were $120.4 million. What was the net income?

Global Tech Solutions paid out $18.9 million in total common dividends and reported $160.3 million of retained earnings at year- end. The prior year's retained earnings were $120.4 million. What was the net income?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 6P: In its most recent financial statements, Del-Castillo Inc. reported 70 million of net income and 900...

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Question

What was the net income of this financial accounting question?

Global Tech Solutions paid out $18.9 million in total common
dividends and reported $160.3 million of retained earnings at year-
end. The prior year's retained earnings were $120.4 million.
What was the net income?

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