At the beginning of the current fiscal year, the balance sheet for Davis Co showed liabilities of $160,000. During the year Habilities decreased by $9,000, assets increased by $33,000 and paid-in capital increased from $15,000 to $96,000. Dividends declared and paid during the year were $12,000. At the end of the year, stockholders' equity totaled $215,000, Required: Calculate net income (or loss) for the year indicate the financial statement effect. (Enter decreases with a minus sign to indicate negative financial statement effect.) Assets PIC RE Liabilities $ 150 000 0.000) Beginning Changes $ 15,000 33,000 Ending $ 90,000 (5215,000 total SE)