Selected information taken from the financial statements of Fordstar Co. for the year ended December 31, 2019, follows:

Net cash provided by operations	$	45,000
Cost of goods sold		196,500
Selling, general, and administrative expenses		67,500
Accounts payable		54,000
Dividends paid		94,500
Research and development expenses		40,500
Merchandise inventory		66,000
Provision for income taxes		25,500
Net sales		550,500
Interest expense		61,500

Required: a. Calculate income from operations (operating income) for the year ended December 31, 2019.

b. Calculate net income for the year ended December 31, 2019.