9 Listen 12 Heron Ltd. had the following information for 2019: Assets, January 1..... $250,000 Assets, December 31..... 230,000 Liabilities, January 1. 150,000 Common stock, December 31...... 80,000 Retained earnings, December 31.... ..... 41,000 Common stock sold during the year........ 10,000 Dividends declared during the year.... 13,000 15 18 Instructions (Show all calculations) Compute the net income for the year. (Hint: Consider Accounting Equation (A - L = SHE]; separate the SHE components Common Stock & Retained Earnings to compute the Net Income) 21 V > Paragraph Uv B I , V + .! ... 4