Presented below is certain information pertaining to Oriole company. Assets, January 1 $254,000 Assets, December 31 232,100 Liabilities, January 1 152,000 Common stock, December 31 80,000 Retained earnings, December 31 39,100 Common stock sold during the year 11,700 Dividends declared during the year 12,600 Compute the net income for the year. Net income $ -16200