At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $528,000. During the year, liabilities increased by $26,000 to $220,000; paid-in capital increased by $35,000 to $178,000; and assets increased by $263,000. Dividends declared and paid during the year were $62,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Stockholders' Equity PIC RE Assets Liabilities + + + + $528,000 SE Beginning Changes 263,000 26,000 + 35,000 + Ending II $ 220,000 + $ 178,000 +