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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.
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