Aunti alive cxpenses Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: 1. 2. 3. 4. 5. 12,000 10,000 86,000 6,000 80,000 16,000 $ 64,000 Depreciation expense was $35,000. Dividends declared and paid were $40,000. During the year, equipment was sold for $17,000 cash. This equipment originally cost $36,000 and had acc depreciation of $19,000 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash