At the beginning of the current fiscal year, the balance sheet of Cummings Company showed liabilities of $436,000. During the year, liabilities decreased by $72,000, assets increased by $152,000, and paid-in capital increased by $18,000 to $385,000. Dividends declared and paid during the year were $121,000. At the end of the year, stockholders' equity totaled $751,000. Required: Calculate net income or loss for the year. Note: Amounts to be deducted should be indicated with a minus sign