follows: Cash Accounts receivable Inventory Prepaid expenses ces Long-term loans to subsidiaries Long-term investments Plant and equipment Accumulated depreciation Accounts payable Accrued liabilities Income taxes payable Bonds payable Common stock Retained earnings Debits > Credits by: $ 84,200 170,400 Credits > Debits by: $ 84,900 4,500 103,000 96,000 315,000 65,700 49,400 5,700 9,900 401,000 124,000 76,900 $ 795,300 $ 795,300 The following additional information is available about last year's activities: a. Net income for the year was $? b. The company sold equipment during the year for $35,300. The equipment originally cost $160,000 and it had $126,600 in accumulated depreciation at the time of sale. c. Cash dividends of $10,500 were declared and paid during the year. d. The beginning and ending balances in the Plant and Equipment and Accumulated Depreciation accounts are given below: