LuLu Islands Incorporated has $60 million in common stock and $25 million in retained earnings...
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Accounting
LuLu Islands Incorporated has $60 million in common stock and $25 million in retained earnings at the start of the year. During the year, LuLu reports a net income of $15 million and paid dividends of $5 million. At the end of the year, LuLu still has $60 million in common stock.
Prepare a statement of stockholders equity at the end of the year.
Note: Enter your answers in millions.
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