At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $256,000. During the year. liabilities decreased by $14,400, assets increased by $52,000, and paid in capital increased from $24,000 to $153,600 Dividends declared and paid during the year were $20,000. At the end of the year, stockholders' equity totaled $343,200. Required: Calculate net income for loss) for the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate negative financial statement effect.) Assets Stockholders' Equity Pic RE $ 24,000 Liabilities $ 255,000 (14 400) Beginning Changes 52.000 Ending 5153.600 15343 200 tot SE