Problem : Use the appropriate information from the data provided below for the year ended December 31, 2009 to calculate the following:
a. Operating income
b. Income from continuing operations
c. Net income
Cost of goods sold $11,700
Gen and admin expenses $48,000
Net cash provided by financing activities $69,000
Dividends paid $16,000
Extraordinary loss, net of taxes of $32,000 $74,000
Income tax exp $11,000
other selling exp $26,000
net sales $278,000
advertising exp $39,000
accounts receivable $33,000