(Spts) 1) Calculation of net income from the change in stockholders' equity. Presented below is certain information pertaining to Edson 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 $250,000 230,000 150,000 90,000 41,000 10,000 13,000 Compute the net income for the year. Verdana 10pt BIU A I 2 e 11 1 SALES REVENUE BEGINNING INVENTORY NET PURCHASES ENDING INVENTORY COST OF GOODS SOLD GROSS PROFIT OPERATING EXPENSES INCOME BEFORE TAX COMPANY COMPANY COMPANY (5pts) 1 2 3 343,400.00 540,000.00 52,600.00 D 90,000.00 205,300.00 255,600.00 G 82,200.00 108,000.00 63,000.00 B E 437,000.00 75,300.00 I 128,000.00 H 50,000.00 48,000.00 6,000.00 F 1