Exercise 1-20A (Algo) Analyzing retained earnings to determine net income LO 1-7, 1-8 The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $79,500. Total stockholders' equity increased by $45,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $32,000 cash from the issue of common stock. Deen Company paid a $4,500 cash dividend to the stockholders during Year 2. Required: Determine the amount of net income or loss Deen reported on its Year 2 Income statement. (Hint Remember that stock issues, net income, and dividends all change total stockholders' equity.)