Exercise 103 Your answer is incorrect. Try again. Presented below is certain information pertaining to Edson Company. Assets, January 1 Assets, December 31 Liabilities, January1 Common stock, December 31 Retained earnings, December 31 Common stock sold during the year 11 Dividends declared during the year13,440 $248,560 231,650 143,590 79,360 39,480 ,000 Compute the net income for the year. Net income