Sved Help Save & Exit Submit Check my work stockholders' equity totaled $643,500. Required: Calculate net income (or loss) for the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Stockholders' Equity PIC RE $ 45,000+ + 11 Liabilities $ 480,000+ (27,000) + Beginning Changes 97,500 = Ending $ 288,000 (5643,500 total SE) O RE hp a