Exercise 4-1 Presented below are changes in all the account balances of Whispering Furniture Co. during the current year, except for retained earnings Increase Increase (Decrease) $(52,920) 82,720 131,600 (48,260) Paid-In Capital in Excess of Par Common Stock 15,050 (Decrease) 0,050 Accounts Payable Cash Accounts Receivable (net)49,800 Inventory Investments Bonds Payable 31,100 Common Stock 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 $28,190 which was paid in the current year. Net incomes