Presented below are changes in all the account balances of Bramble Furniture Co. during the current year, except for retained earnings.

		Increase (Decrease)					Increase (Decrease)
Cash		$70,360			Accounts Payable		$(52,610	)
Accounts Receivable (net)		48,300			Bonds Payable		84,270
Inventory		133,900			Common Stock		134,700
Investments		(47,730	)		Paid-In Capital in Excess of ParCommon Stock		13,220

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 $23,000 which was paid in the current year.