Question: In its recent income statement, Smith Software Inc. reported paying $10 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 $10 million in dividends to common shareholders, and in its year-end balance sheet, Smith reported $419 million of retained earnings. The previous year, its balance sheet showed $404 million of retained earnings. What is the firm's net income during the most recent year?

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