1.11 points At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $352,000. During the year, liabilities decreased by $19,800, assets increased by paid-in capital increased from $33,000 to $211,200. Dividends declared and paid during the year were $27,500. At the end of the year, stockholders' equity totaled $471,900. Required: Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign,) Stockholders' Equity RE PIC Assets Liabilities 33,000 Beginning: $352.000 71,500 (19.800) Changes: ($471,900 total SE) 211,200+ Ending