The following is the adjusted trial balance for Steely Company.

Steely Company Adjusted Trial Balance For the Year ended December 31, 20XX
Cash	$5,401
Accounts Receivable	$2,938
Prepaid Expenses	$712
Equipment	$14,787
Accumulated Depreciation		$8,574
Accounts Payable		$1,725
Notes Payable		$4,397
Bob Steely, Capital		$6,738
Bob Steely, Withdrawals	$692
Fees Earned		$7,838
Wages Expense	$3,191
Rent Expense	$822
Utility Expense	$428
Depreciation Expense	$246
Miscellaneous Expense	$55
Totals	$29,272	$29,272

Determine the net income (loss) for the period.