The following are from a company's statements of financial position:

During 2011, the company issued additional shares for $7,000 and declared dividends of $4,000.
Required:
Calculate what the company's net income or loss must have been for the year 2011. Be sure to indicate whether your answer represents net earnings or a net loss.

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Total assets Total liabilities Dec. 31, 2010 $110,000 $80,000 Dec. 31, 2011 $125,000 $85,000