Presented below are changes in all the account balances of Jackson Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash $69,000 Accounts Payable $(51,000) Accounts Receivable (net) 45,000 Bonds Payable 82,000 Inventory 127,000 Common Stock 125,000 Investments (47,000) Additional Paid-in Capital 13,000 Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $24,000 which was paid in the current year