Income from operations Interest expense Income before income taxes Income tax expense Net income Additional data: 1. 2. 3. 4. 5. (a) 42,600 2,900 39,700 7,940 $31,760 Depreciation expense was $16,500. Dividends declared and paid were $27,460. During the year equipment was sold for $8,600 cash. This equipment cost $18,300 originally and had accumulated depreciation of $9,700 at the time of sale. Bonds were redeemed at their carrying value. Common stock was issued at par for cash