Statement of Retained Earnings
Mr. Husker’s Tuxedos Corp. began the year 2018 with $272 million in retained earnings. The firm earned net income of $41 million in 2018 and paid dividends of $8 million to its preferred stockholders and $11 million to its common stockholders.
What is the year-end 2018 balance in retained earnings for Mr. Husker’s Tuxedos? (Enter your answer in millions of dollars.)