On January 1, Christopher's reported total stockholders' equity of $1,300. During the year, $50 of dividends were declared and paid, donated land with a donor book value of $14 and a current fair value of $38 was received, additional common stock was issued for $300, and treasury stock was acquired for $22. The reported total stockholders' equity at December 31 was $1,406. What was the reported net income or loss for the year?

a) $160 net income

b) $260 net loss

c) $136 net loss

d) $160 net loss

I believe the answer is D ($136 net loss). Can I please see the work for this problem?