The changes in account balances for Nick-Nack Company for 2021 are as follows: Assets $ 480,000 debit Liabilities 180,000 credit Common stock 250,000 credit Paid-in capital-XS par 30.000 credit Assuming the only changes in retained earnings in 2021 were for net income and a $20,000 dividend, what was net income for 2021? $60,000 $70,000 $40,000 $90,000