The December 31, 2016, balance sheet for Deen Company showed total stockholders' equity of $75,000. Total stockholders' equity increased by $50,000 between December 31, 2016, and December 31, 2017. During 2017 Deen Company acquired $10,000 cash from the issue of common stock. Deen Company paid a $8,000 cash dividend to the stockholders during 2017. Required Determine the amount of net income or loss Deen reported on its 2017 income statement. (Hint. Remember that stock issues, net income, and dividends all change total stockholders' equity.)