9-20 (Algo) Calculate operating income and net income LO 5 The following Information is available from the accounting records of Spenser Co. for the year ended December 31, 2019: Selling, general, and administrative expenses Accounts payable Research and development expenses Loss from discontinued operations, net of tax savings of $6,000 Provision for income taxes Net sales Interest expense Net cash provided by operations Cost of goods sold $ 61,200 102,000 44,400 19,200 88,800 694,800 76,800 177,600 326,400 Required: a. Calculate the operating Income for Spenser Co. for the year ended December 31, 2019. Expenses: SPENSER CO. Operating Income Statement For the year ended December 31, 2019 b. Calculate the company's net Income for 2019