The December 31, 2011, balance sheet for Classic Company showed total stockholders' equity of \(\$ 82,500\). Total stockholders' equity increased by \(\$ 53,400\) between December 31, 2011, and December 31, 2012. During 2012 Classic Company acquired \(\$ 13,000\) cash from the issue of common stock. Classic Company paid an \$8,000 cash dividend to the stockholders during 2012.
Required
Determine the amount of net income or loss Classic reported on its 2012 income statement. (Remember that stock issues, net income, and dividends all change total stockholders' equity.)