Question 9 of 10 Loss on disposal of plant assets Income before income taxes Income tax expense Net income Additional information: 3. 4. 5. 6. 2,000 1. Operating expenses include depreciation expense of $40,000. 2. Land was sold at its book value for cash. 1 720,000 221,000 65,000 $156,000 Cash dividends of $85,000 were declared and paid in 2022. Equipment with a cost of $166,000 was purchased for cash. Equipment with a cost of $51,000 and a book value of $36,000 was sold for $34,000 cash. Bonds of $50,000 were redeemed at their face value for cash. Common stock ($1 par) of $170,000 was issued for cash.