Presented below is certain information pertaining to Cullumber Company. Compute the net income for the year

Presented below' is certain information pertaining to Cullumber Company. Assets, January 1 Assets, December 31 Liabilities, January 1 Common stock, December 31 Retained earnings, December 31 Common stock sold during the year Dividends declared during the year Compute the net income for the year. $252,200 233,200 150,200 79,000 41,600 11,900 12,500