Question: Presented below are changes (in thousands) in the account balances of Wenn Company during the year, except for retained earnings. Increase (Decrease) Cash 25,000 Accounts

Presented below are changes (in thousands) in the account balances of Wenn Company during the year, except for retained earnings.

Increase (Decrease)
Cash 25,000
Accounts Receivable (net) (13,000)
Inventory 52,000
Plant Assets (net) 37,000
Accounts Payable 34,000
Bonds Payable (20,000)
Share Capital 72,000
Share Premium 16,000

The only entries in Retained Earnings were for net income and a dividend declaration of $10,000.

Q: Compute the net income for the current year.

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