At the beginning of the current fiscal year, the balance sheet of Brown and Co. showed liabilities of $40,000. During the year liabilities increased by 510,000, assets increased by $30,000, and Stockholders' Equity increased from $20,000 to $40,000. Dividends declared and paid during the year were $6,000. Common Stock stayed the same, from the beginning of the year until the end, $10,000. What was net income or loss for the year? a) $26,000 b) $40,000 c) $20,000 d) $34,000