Determining Net Income The beginning and ending balances of retained earnings for the year were $54,000 and $63,000, respectively. If dividend payments made during the year were $5,400, determine the net income or net loss for the year. Use a negative sign with your answer to indicate a net loss, if applicable.

Determining Net Income The beginning and ending balances of retained earnings for the year were $54,000 and $63,000, respectively. If dividend payments made during the year were $5,400, determine the net income or net loss for the year. Use a negative sign with your answer to indicate a net loss, if applicable