Revenues for the Year Totaled $162,000 and Expenses Totaled $174,000

Multiple Choice

Revenues for the year totaled $162,000 and expenses totaled $174,000. The stockholders purchased $15,000 of common stock and were paid $6,000 in dividends during the year. What was the net income or net loss for the year?

A) $12,000 net income
B) $12,000 net loss
C) $18,000 net loss
D) $6,000 net loss