Exercise 4-1 Presented below are changes in all the account balances of Tamarisk Furniture Co. during the current year, except for retained earnings. Cash Accounts Receivable (net) Inventory Investments Increase (Decrease) $71,670 45,600 127,700 (47,080) Accounts Payable Bonds Payable Common Stock Paid-In Capital in Excess of Par-Common Stock Increase (Decrease) $(51,800) 84,550 134,800 14,150 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 $28,800 which was paid in the current year. Net income