Calculate income from operations and net income Selected information taken from the financial statements of Verbeke Co. for the year ended December 31, 2009, follows:

a. Calculate income from operations (operating income) for the year ended December 31, 2009. (Hint: You may wish to review Exhibit 2-2.)

b. Calculate net income for the year ended December 31, 2009.

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Gross profit. General and administrative expenses.. Net cash used by investing activities Dividends pald.. Extraordinary loss from an earthquake, net of tax savings of $25,000 Net sales. Advertising expense Accounts payable. Income tax expense Other selling expenses. $412,000 83,000 106,000 51,000 61,000 741,000 76,000 101,000 83,000 42,000