18- On January 1, XYZ Company reported retained earnings of $420,000. During the year, the company paid dividends of $36,000. At December 31, the balance in retained earnings was $324,000. What amount of net income or net loss would the company report for the year?* Net loss of $132,000 Net income of $132,000 Net income of $60,000 Net loss of $60,000 None of the above