The following are changes in all account balances of Sunland Furniture during the current year, except...

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The following are changes in all account balances of Sunland Furniture during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash 86,940 Accounts Payable (64,260 ) Accounts Receivable (net) 56,700 Bonds Payable 103,320 Inventory 160,020 Share Capital-Ordinary 173,880 Investments (59,220) 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 30,240 which was paid in the current year. The following are changes in all account balances of Sunland Furniture during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash 86,940 Accounts Payable (64,260 ) Accounts Receivable (net) 56,700 Bonds Payable 103,320 Inventory 160,020 Share Capital-Ordinary 173,880 Investments (59,220) 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 30,240 which was paid in the current year.