Increase (Decrease)


Increase (Decrease)
Cash $69,000 Accounts Payable $(51,000)
Accounts Receivable (net) 45,000 Bonds Payable 82,000
Inventory 127,000 Common Stock 125,000
Investments (47,000) Additional Paid-in Capital 13,000

Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $24,000 which was paid in the current year.