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Calculate the net income from the given data Cost of goods sold . . . . . . . . . . . . .

Calculate the net income from the given data

Cost of goods sold . . . . . . . . . . . . . . $53,000

Payment of dividends . . . . . . . . . . $8,000

Other operating expenses . . . . . . . . $13,000

Proceeds from issuance of stock . . . $79,000

Depreciation expense . . . . . . . . . . . . $22,000

Purchase of treasury stock . . . . . . . . $16,000

Purchase of equipment with cash . . $28,000

Sales revenue . . . . . . . . . . . . . . . . . . $118,000

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