Selected information taken from the financial statements of Verbeke Co. for the year ended December 31, 2013, follows:

Gross profit	$413,000
General and administrative expenses	82,000
Net cash used by investing activities	107,000
Dividends paid	55,000
Interest expense	63,000
Net sales	747,000
Advertising expense	77,000
Accounts payable	102,000
Income tax expense	84,000
Other selling expenses	45,000

Required:

a.	Calculate income from operations (operating income) for the year ended December 31, 2013.
	Income from operations:

b.	Calculate net income for the year ended December 31, 2013.
	Net Income: