In the year-end of 2018 Mike Foods Inc. just spent $19.5
In the year-end of 2018, Mike Foods Inc. just spent $19.5 million to pay out the dividends and it disclosed
the retained earnings of $279.5 million. In the year-end of 2017 the company had retained earnings of
$221.8 million. Based on the given information, what was the net income of 2018 for Mike Foods Inc.?
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