During Year $1,$ Woozit Widget Company performed services for which customers paid or promised to pay a total of $$580,498.$ Of this amount, $$564,597$ had been collected by year$-$end. Woozit paid $$326,121$ in cash for the employee wages and owed the employees $$15,042$ at the end of the year for work that had been done but not been paid for. Woozit paid interest expense of $$4,475$ and paid $$188,876$ for other various expenses. Woozit declared and paid dividends of $$21,170.$ There were no other transactions.

Based on the information above, determine Woozit's net income $($loss$)$ in Year $1.$