Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2016, follows:

Net cash provided by operations ................................................................. $ 24,000

Cost of goods sold ..................................................................................... 78,000

Selling, general, and administrative expenses ............................................. 31,000

Accounts payable ....................................................................................... 22,000

Dividends paid ............................................................................................. 34,000

Research and development expenses ......................................................... 8,000

Merchandise inventory ................................................................................. 43,000

Provision for income taxes ........................................................................... 19,000

Net Sales ..................................................................................................... 210,000

Interest expense ........................................................................................... 16,000

a. Calculate income from operations (operating income) for the year ended December 31, 2016.

b. Calculate net income for the year ended December 31, 2016.