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  3. presented below are changes in all the account bal

Presented below are changes in all the account balances of Bramble Furniture Co. during the...

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Accounting

Presented below are changes in all the account balances of Bramble Furniture Co. during the current year, except for retained earnings.

Increase (Decrease)

Increase (Decrease)

Cash

 $70,360

Accounts Payable

 $(52,610 )

Accounts Receivable (net)

 48,300

Bonds Payable

 84,270

Inventory

 133,900

Common Stock

 134,700

Investments

 (47,730 )

Paid-In Capital in Excess of ParCommon Stock

 13,220

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 $23,000 which was paid in the current year.

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