At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $438,000. During the year, liabilities decreased by $71,000, assets increased by $152,000, and paid-in capital increased by $24,000 to $382,000. Dividends declared and paid during the year were $130,000. At the end of the year, stockholders' equity totaled $756,000. 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 + + = + Beginning Changes $ 438,000 + (71,000) + 152,000 = 24,000 + Net income Dividends Ending + $ 382,000 + $756,000 SE