Check my work 00 At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $352,000. During the year, liabilities decreased by $19,800, assets increased by $71,500, and paid-in capital increased from $33,000 to $211,200. Dividends declared and paid during the year were $27,500. At the end of the year, stockholders' equity totaled $471,900. 1.11 points Required: Calculate net income (or loss) for the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) & 02:01:24 eBook Assets Stockholders' Equity PIC RE 33.000 + Print Liabilities $ 352,000 + $ (19,800) Beginning: Changes: References 71,500 5 Ending: $ 211,200 + On total Dividends Net income Net loss