Question: in its recent income statement, Smith Software Inc. reported paying $12 million in dividends to common shareholders, and in its year-end balance sheet, Smith reported

in its recent income statement, Smith Software Inc. reported paying $12 million in dividends to common shareholders, and in its year-end balance sheet, Smith reported $333 million of retained earnings. The previous year, its balance sheet showed $328 million of retained earnings. What was the firm's net income during the most recent year? (Answers are in $ millions.)

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