Question - The information contained below is for the fiscal year ended December 31, 2013.
|
Cost of goods sold
|
$117,000
|
|
General and administrative expenses
|
48,000
|
|
Net Cash provided by financing activities
|
69,000
|
|
Dividends paid
|
16,000
|
|
Extraordinary loss from an flood, net of tax saving of $32,000
|
74,000
|
|
Income tax expense
|
11,000
|
|
Other selling expenses
|
26,000
|
|
Net Sales
|
278,000
|
|
Advertising expense
|
39,000
|
|
Accounts payable
|
33,000
|
Calculate the operating income for 2013.