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The Claremont Company reported the following financial results during its first two years of operations

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The Claremont Company reported the following financial results during its first two years of operations.

Year End	Assets	=	Liabilities	+	Shareholders' Equity
Year 1	$116,000	=	$60,000	+	$56,000
Year 2	125,000	=	80,000	+	45,000

Assuming that no dividends were declared and that no additional capital was invested in Year 2, determine the net income (loss) for the Claremont Company in Year 2.

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