At the beginning of the current fiscal year, the balance sheet of Cummings Company showed liabilities of $434,000. During the year liabilities decreased by $75,000, assets increased by $155,000, and paid-in capital increased by $22,000 to $382,000. Dividends declared and paid during the year were $129,000. At the end of the year, stockholders' equity totaled $754,000. Required: Calculate net income or loss for the year. Note: Amounts to be deducted should be indicated with a minus sign