Chun Company reported a beginning balance in Retained Earnings of $12,600. They paid no dividends during 20X5. At the end of the year, there were debit entries to Retained Earnings totaling $305,200 and credit entries totaling $297,400. Net income or net loss for 20X5 was: $7,800 net income $7,800 net loss $20,400 net loss $4,800 net income $20,400 net income