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Presented below are changes (in thousands) in the account balances of Wenn Company during the year, except for retained earnings. Increase (Decrease) Cash 25,000 Accounts
Presented below are changes (in thousands) in the account balances of Wenn Company during the year, except for retained earnings.
| Increase (Decrease) | |
| Cash | 25,000 |
| Accounts Receivable (net) | (13,000) |
| Inventory | 52,000 |
| Plant Assets (net) | 37,000 |
| Accounts Payable | 34,000 |
| Bonds Payable | (20,000) |
| Share Capital | 72,000 |
| Share Premium | 16,000 |
The only entries in Retained Earnings were for net income and a dividend declaration of $10,000.
Q: Compute the net income for the current year.
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