At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $520,000. During the year, liabilities increased by $27,000 to $238,000; paid-in capital increased by $31,000 to $177,000; and assets increased by $266,000. Dividends declared and paid during the year were $45,000. 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 $520,000 SE 266,000 - 27,000 + 31,000+ Ending $ 238,000 + $ 177,000