Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings. Increase Increase (Decrease) (Decrease) Cash $29,880 Accounts payable $32,960 Accounts receivable (net) (18,560) Bonds payable (17,730) Inventory 50,640 Common stock 61,040 Plant assets (net) 47,900 Paidin capital 16,970 The only entries in Retained Earnings were for net income and a dividend declaration of $16,570. (3) Compute the net income for the current yea r. Net income $