Presented below are changes in all the account balances of Concord Furniture Co. during the current year, except for retained earnings Increase (Decrease) Increase 70,00 Accounts Payable 49,800Bonds Payable 131,100 Cmmon Stock (48,260) (52,920) 82,720 131,600 15,050 Cash Accounts Receivable (net) Investments Paid-In Capital in Excess of Par-Common Stock 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 $28,190 which was paid in the current year. Net income