1. Following is a random list of accounts with normal balances for the Wiggins Company as of December 31, 2018. Based on the information given below, calculate operating income for the year ended December 31, 2018.

Cost of Goods Sold	$117,000
General Expenses	36,000
Administrative Expenses	12,000
Net Cash Provided by Financing Activities	69,000
Dividends Paid	16,000
Extraordinary Loss from a flood, Net of tax savings of $32,000	74,000
Income Tax Expense	11,000
Other Selling Expenses	26,000
Net Sales	278,000
Advertising Expense	39,000
Accounts Receivable	33,000
Accounts Payable	40,000

Operating Income Statement