At the beginning of the eurront fiscal yoar, the balance sheet of Cummings Compary showed liatsintes of 5437000 During the year. dectared and paid during the year were $120,000. At the ond or the year, stocktiolders' equity totsled $754,000. Requireat: Caiculate net income or loss for the year Note: Amounts to be deducted should be indicated with a minus sign