At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $518,000. During the year, liabilities increased by $21,000 to $233,000, paid in capital increased by $31,000 to $176,000, and assets increased by $264,000. Dividends declared and paid during the year were $50,000 Required: Calculate net income or loss for the year (Amounts to be deducted should be indicated with a minus sign.) Assets - 264.000 = Stockholders' Equity PIC + RE $ 145,000 31,000+ Liabilities + $ 212,000 21,000+ Beginning Changes $518,000 SE Dividends Ending - $ 233,000 + $ 176,000