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The following changes in Vel Corp.'s account balances occurred during the current year: Increase Assets $ 89,000 Liabilities27,000 Capital stock 60,000 Additional paid-in capital 6,000

The following changes in Vel Corp.'s account balances occurred during the current year:

Increase Assets $ 89,000 Liabilities27,000 Capital stock 60,000 Additional paid-in capital 6,000

Except for a $13,000 dividend payment and the year's earnings, there were no changes in retained earnings for the current year. What was Vel's current year net income?

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