Presented below are changes in all the account balances of Metlock Furniture Co, during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash $71,670 Accounts Payable $(51,800) Accounts Receivable (net) 45,600 Bonds Payable 84.550 Inventory 127,700 Common Stock 134.800 Investments (47,080 ) Paid-In Capital in Excess of Par--Common Stock 14.150 Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for not income and a dividend declaration of $28,800 which was paid in the current year. Net income 5