2. (4.5 pts) Presented below are changes in the account balances of Bing Company during the year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash $25,000 Accounts payable $35,000 Accounts receivable (net) (13,000) Bonds payable (20,000) Inventory 52,000 Common stock 72,000 Plant Assets (net) 37,000 Paid-in capital 19,000 The only entries in Retained Earnings were for net income and a dividend declaration of $20,000. Compute the net income for the current year