Question 2 Presented below are changes in all the account balances of Nash Furniture Co. during the current year, except for retained earnings. Increase Increase (Decrease) (Decrease) Cash $69,040 Accounts Payable $(51.520 Accounts Receivable (net) 47,400 Bonds Payable 82,870 Inventory 130,000 Common Stock 129,700 Investments (48.170) Paid-In Capital in Excess of Par-Common Stock 14,990 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 $26,380 which was paid in the current year. Net incomes