At the beginning of the current fiscal year, the balance sheet for Sammy Co. showed liabilities of $192,000. During the year liabilities decreased by $10,800, assets increased by $39,000, and paid-in capital increased from $18,000 to $115,200. Dividends declared and paid during the year were $15,000. At the end of the year, stockholders equity totaled $257,400

Required:

Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign.)

Stockholders Equity

Assets= Liabilities + PIC + RE

Beginning:= ?? 192,000 + 18,000 + ????

Changes: 39,000 =(10,800) + ??? + ???

Ending:= ???? ???? +115,200 + ??? ($257400 total SE)