Daiichi Company's total assets and liabilities at the beginning and end of the year follow.

	Assets	Liabilities
Beginning of the year	$175,000	$ 68,750
End of the year	275,000	162,500

Determine Daiichi's net income or loss for the year under each of the following alternatives:

1. No common stock was issued, and no dividends were paid during the year. Select: Net income or Net loss (total) $ :

2. No common stock was issued, but Daiichi paid $27,500 in dividends during the year. Select: Net income or Net loss (total) $ :

3. Common stock of $16,250 was issued, but no dividends were paid during the year. Select: Net income or Net loss (total) $ :

4. Common stock of $12,500 was issued, and Daiichi paid dividends of $27,500 during the year. Select: Net income or Net loss (total) $ :