On August 1, 2014, Larry Goldstein and Rafi Hassan created a partnership to produce software for online advertising. Goldstein was a lawyer and would handle all the legal matters, but Hassan was the technical whiz and would all of the production and sales. Because most of the work would be done by Hassan, the partnership agreement specified that the yearly income would be split in a two-phase allocation. The first $100,000 of annual income would be split among Goldstein and Hassan in a 2:3 ratio (two part to Goldstein, three parts to Hassan). Any income above $100,000 would be split evenly. At the onset, both men contributed $200,000 to the partnership and made no draws during 2014. At the end of 2014, the partnership earned $195,000 of net income.  

The income or loss for 2014 is?