Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings.

Increase (Decrease) Increase (Decrease) Cash $28,760 Accounts payable $32,650 Accounts receivable (net) (17,840) Bonds payable (18,410) Inventory 52,240 Common stock 61,910 Plant assets (net) 47,860 Paid-in capital 16,500

The only entries in Retained Earnings were for net income and a dividend declaration of $17,380.

(a) Compute the net income for the current year.

Net income $ ???