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 $65,500. Total stockholders' equity increased by $33,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $13,500 cash from the issue of common stock. Deen Company paid a $6,000 cash dividend to the stockhoiders 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 ail change total stockholders' equity) 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 $65,500. Total stockholders' equity increased by $33,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $13,500 cash from the issue of common stock. Deen Company paid a $6,000 cash dividend to the stockhoiders 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 ail change total stockholders' equity)