Shown below in the T$-$account are the changes affecting the Pacific Corporation's retained earnings during $2022.$ On Jan. $1,2022,$ the corporation had outstanding $100$ million common shares, $$1$ par value. Assume the Pacific had a beginning balance of PIC$-$share repurchase of $$3$ million.

$\backslash$table$[[$Retained Earnings $($ $ in millions$)],[,,60$ Begin$],[$Retirement of $10$ million common shares for $$20$ million,$2,],[,80$ net income for the year$],[$Declaration and payment of $$0\mathrm{.}6$ per share cash dividehd $xxx$