At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $521,000. During the year, liabilities increased by $23,000 to $231,000; paid-in capital increased by $33,000 to $172,000; and assets increased by $251,000. Dividends declared and paid during the year were $57,000. Required: Calculate net income or loss for the year. (Amounts to be deducted sh

					Stockholders Equity
	Assets	=	Liabilities	+	PIC	+	RE
Beginning		=		+		+		$521,000 SE
Changes	251,000	=	23,000	+	33,000	+
Ending		=	$231,000	+	$172,000	+