1. Business
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  3. exercise 41 presented below are changes in all the account...

Question: exercise 41 presented below are changes in all the account...

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Exercise 4-1 Presented below are changes in all the account balances of Windsor Furniture Co. during the current year, except for retained earnings. Increase (Decrease) Increase (Decrease) Cash $70,710 Accounts Payable $(51,900 ) Accounts Receivable (net) 45,300 Bonds Payable 82,560 Inventory 131,400 Common Stock 134,800 Investments (48,390 ) Paid-In Capital in Excess of Par—Common Stock 14,220 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 $25,290 which was paid in the current year. Net income $

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