At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $517,000. During the year, liabilities increased by $22,000 to $221,000; paid-in capital increased by $39,000 to $175,000; and assets increased by $255,000. Dividends declared and paid during the year were $54,000. 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 + + = $517,000 SE Beginning Changes 255.000 = 22.000 + 39,000 + Ending $ 221,000 $ 175,000 +