Ex. 4-118 - calculation of net income from the changes in stockholder's equity.

Presented bellow is certain information pertaining to Edson Company

Assets, January 1 $250,000

Assets, December 31 230,000

Liabilities, January 1 150,000

Common Stock, December 31 80,000

Retained earning, December 31 31,000

Common stock sold during the year 10,000

Dividends declare during the year 13,000

Compute the net income for the year?