The balance of stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000, respectively. The company issued no common stock during the year. Dividends were $ 22 comma 000. What was the net income or loss for the year?

Since no additional common stock was issued during the year, $29,000 represents income earned during the year before dividend is paid. After dividend of $22,000 has been paid, the balance of $7,000 profit will be added to retained earnings .

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The balance of​ stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000​, respectively. The company issued no common stock during the year. Dividends were $ 22 comma 000. What was the net income or loss for the​ year?

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The balance of stockholders' equity at the beginning of the year and the end of the year was $ 60 comma 000 and $ 67 comma 000, respectively. The company issued no common stock during the year. Dividends were $ 22 comma 000. What was the net income or loss for the year?