Mr. Husker's Tuxedos, Corp. began the year 2018 with $256 million in retained earnings. The firm earned

Question:

Mr. Husker's Tuxedos, Corp. began the year 2018 with $256 million in retained earnings. The firm earned net income of $33 million in 2018 and paid dividends of $5 million to its preferred stockholders and $10 million to its common stockholders. What is the year-end 2018 balance in retained earnings for Mr. Husker's Tuxedos?