I only have one more attempt so please make sure its correct :(( Also if you could explain your steps, (like which accounts you exactly subtracted or added) because I did it the way the book says and it told me my answer was incorrect. So Im messing up somewhere and I need to know where.

Thank you!!!

Exercise 4-1 Your answer is incorrect. Try again Presented below are changes in all the account balances of Cheyenne Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Cash Accounts Receivable (net) InventonyY Investments Increase (Decrease $(51,020) 83,990 132,100 (47,640) Paid-In Capital in Excess of Par-Common Stock 13,310 70,270 Accounts Payable 54,100Bonds Payable 128,900 Common Stock Compute the net income for the current yea, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $27,000 which was paid in the current year Net income 53,750 Click if you would like to Show Work for this question: 00sn Shon Wark