Baldwin Corp. began the year with cash of $35,000 and a computer that cost $20,000. During the year, Baldwin earned…

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Baldwin Corp. began the year with cash of $35,000 and a computer that cost $20,000. During the year, Baldwin earned sales revenue of $140,000 and had the following expenses: salaries, $59,000; rent, $8,000; and utilities, $3,000. At year end, Baldwin’s cash balance was down to $16,000. How much net income (or net loss) did Baldwin experience for the year?

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