The equity sections from the 2014 and 2015 balance sheets of Fab-Form Industries Inc. appeared as follows:

On March 16, June 15, September 5, and November 22, 2015, the board of directors declared $0.20 per share cash dividends on the outstanding common shares. On October 14, 2015, 19,200 additional common shares were issued.

Required
Under the assumption that there were no transactions affecting retained earnings other than the ones given, determine the 2015 net income (net loss) of Fab-Form Industries Inc. Show yourcalculations.

Fab-Form Industries Inc. Equity Section of the Balance Sheet December 31, 2014 Contributed capital: Common shares, unlimited shares authorized ing.... Retained earnings. Total equity.. $ 688,000 558,608 $1,246,608 Fab-Form Industries Inc. Equity Section of the Balance Sheet December 31, 2015 Contributed capital: Common shares, unlimited shares authorized, Retained earnings.. Total equity $ 833,920 459,600 S1,293,520