3. John Anderson is thinking about going out of business and retiring. His firm has $40,000 in cash, other assets totaling $150,000, and total liabilities of $62,000. The other assets can be sold for an estimated $125,000 cash in a liquidation sale. Calculate the amount of cash that would be available upon Ann's retirement if the other assets were sold and the liabilities were paid off. 4. The following information is from the financial statements DeBauge Company for the year ended December 31, 2012. Gross profit General and administrative expenses Net cash used by investing activities Dividends paid Interest expense Net sales Advertising expense Accounts payable Income tax expense Other selling expenses $375,000 72,000 125,000 45,000 41,000 750,000 48,000 150,000 41,000 39,000 a. Calculate income from operations for the year ended December 31, 2012. b. Calculate net income for the year ended December 31, 2012