Determine the amount of net income or loss classic reported

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Reference no: EM13863734

The December 31, 2012, balance sheet for Classic Company showed total stockholders' equity of $67,000. Total stockholders' equity increased by $32,000 between December 31, 2012, and December 31, 2013. During 2013 Classic Company acquired $11,500 cash from the issue of common stock. Classic Company paid an $9,000 cash dividend to the stockholders during 2013.

Required:

Determine the amount of net income or loss Classic reported on its 2013 income statement. (Input the amount as positive value. Omit the "$" sign in your response.)

Reference no: EM13863734

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