Assuming that no dividends were declared and that no additional capital was invested in Year 2, determine Arcadia's net income (or loss) for Year 2.

The Balance Sheet Equation The Arcadia Company reported the following financial results during its first two years of operations: Shareholders' Year End Assets = Liabilities + Equity Year 1 $65,000 = $60,000 + $5,000 Year 2 70,000 = 40,000 + 30,000 Assuming that no dividends were declared and that no additional capital was invested in Year 2, determine Arcadia's net income (or loss) for Year 2