The December 31, Year 4, balance sheet for Deen Company showed total stockholders’ equity of $156,000. Total stockholders’ equity increased by $65,000 between December 31, Year 4, and December 31, Year 5. During Year 5, Deen Company acquired $20,000 cash from the issue of common stock.

The company paid a $5,000 cash dividend to the stockholders during Year 5.

Required
Determine the amount of net income or loss Deen reported on its Year 5 income statement. Remember that stock issues, net income, and dividends all change total stockholders’ equity.