Presented below are changes in all the account balances of Splish Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash $70,380 Accounts Payable $(52,320 ) Accounts Receivable (net) 52,800 Bonds Payable 83,540 Inventory 133,200 Common Stock 127,100 Investments (47,190 ) Paid-In Capital in Excess of Par—Common Stock 13,370 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 $28,440 which was paid in the current year.