At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $431,000. During the year, liabilities decreased by $72,000, assets increased by $156,000, and paid-in capital increased by $19,000 to $375,000. Dividends declared and paid during the year were $130,000. At the end of the year, stockholders' equity totaled $750,000. 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 Beginning Changes Liabilities $ 431,000 + (72,000) + 156,000 = 19,000 + Ending 11 + 375,000 + $750,000 SE