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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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