$=-$At the beginning of the current fiscal year, the balance sheet of Cummings Company showed liabilities of $$432,000.$ During the year,

liabilities decreased by $$78,000,$ assets increased by $$151,000,$ and paid$-$in capital increased by $$26,000$ to $$388,000.$ Dividends

declared and paid during the year were $$130,000.$ At the end of the year, stockholders' equity totaled $$758,000.$

Required:

Calculate net income or loss for the year.

Note: Amounts to be deducted should be indicated with a minus sign.