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    Sammy Co. Solve for Net Income

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    At the beginning of the current fiscal year, the balance sheet for Sammy Co. showed liabilities of $352,000.  During the year liabilities decreased by $19,800, assets increased by $71,500, and paid-in capital increased from $33,000 to $211,200.  Dividends declared and paid during the year were $27,500.  At the end of the year, stockholders' equity totaled $471,900.  

    What is the net income or net loss for the period?

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