At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $527000. During the year liabilities increased by $28,000 to $234,000, paid-in capital increased by $39,000 to $175,000, and assets increased by $255,000. Dividends declared and paid during the year were $55,000 Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Stockholders' Equity PIC Liabilities RE Assets $527 000 SE Beginning Changes 39.000 255,000 28.000 $ 175.000 Ending $ 234.000+