Pinker Corporation began the year with cash of

$142,000

and land that cost

$24,800

. During the year Pinker earned service revenue of

$280,000

and had the following expenses: salar

$185,000

; rent,

$78,000

; and utilities,

$20,000

. At year-end Pinker's cash balance was down to

$15,000

. How much net income (or net loss) did Pinker experience for the year?

Pinker Corporation began the year with cash of $142,000 and land that cost $24,800. During the year Pinker earned service revenue of $280,000 and had the following expenses: sala $185,000; rent, $78,000; and utilities, $20,000. At year-end Pinker's cash balance was down to $15,000. How much net income (or net loss) did Pinker experience for the year