ational Flashcar... Act 301 Chapter 3 Quiz Flash... Ch. 4 Part 2 Flashcards | Quiz... Chapter 4 Intermediate Acc Presented below are changes in the account balances of Wenn Company during the year, except for retained earnings. Increase Increase (Decrease) (Decrease) Cash $29,000 Accounts payable $34,000 Accounts receivable (net) (18,000) Bonds payable (20,000) Inventory 52,000 Common stock 62,000 Plant assets (net) 57,000 Paid-in capital 16,000 The only entries in Retained Earnings were for net income and a dividend declaration of $17,000. 1. Compute the net income for the current year. Edit View Insert Format Tools Table 12pt Paragraph BIU 7 L