Presented below are changes in all the account balances of Nash Furniture Co. during the current year, except for retained earnings. Increse Decrease Increse Decrease
Cash $70,400 Accounts Payable $51,060
Accounts Receivable 53,100 Bonds Payable 84,740
Inventory 127,400 Common Stock 127,600
Investments (47,150) Paid-In Capital in Excess of Par-Common Stock 13,620

Required:
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 $28,470 which was paid in the current year.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.