The total assets and the total liabilities of a business at the beginning and at the end of the year appear below. During the year, dividends of $9,000 were paid and an additional $4,000 of common stock was sold.

Balance Sheet Amounts:

Assets Liabilities

Beginning of year $85,000 $50,000

End of year 65,000 27,000

What was the amount of net income or loss for the year?