At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $434,000. During the year, liabilities decreased by $75,000, assets increased by $159,000, and paid-in capital increased by $30,000 to $384.000. Dividena declared and paid during the year were $125,000. At the end of the year, stockholders' equity totaled $753,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) + RE Assets $ 945,000 159.000 Answer is complete but not entirely correct. Stockholders' Equity Liabilities PIC $ 434,000 $ 354,000 $ 157,000 (75,000) 30.000 (125,000) Dividends 337,000 Net income $ 359,000 + S 384,000 $ 369,000 $753,000 SE = Beginning Changes + + + + Blo Ending $ 1.112.000 + Is Prey 1 of 7 8 Next > O RH *** a