LuLu Islands Incorporated has $60 million in common stock and $25 million in retained earnings at the start of the year. During the
year, LuLu reports net income of $15 million and paid dividends of $5 million. At the end of the year, LuLu still has $60 million in
common stock.
Required:
Prepare a statement of stockholder's equity at the end of the year.
Note: Enter your answers in millions.