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The following are all changes in the account balances of Blue Spruce Ltd

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The following are all changes in the account balances of Blue Spruce Ltd. during the current year, except for Retained Earnings: 
Increase (Decrease ) Increase (Decrease ) Cash $90,000 Accounts payable $(71,900 ) Accounts receivable (net) 65,000 Unearned revenue 25,000 Inventory 163,000 Bonds payable 77,400 Investments in FV-Nl securities (28,000 ) Common shares 128,000 Contributed surplus 70,900 
Calculate 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 $19,700, which was paid in the current year. 
Net income for the current year $