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

Gross profit	$414,000
General and administrative expenses	80,000
Net cash used by investing activities	107,000
Dividends paid	50,000
Interest expense	64,000
Net sales	746,000
Advertising expense	75,000
Accounts payable	103,000
Income tax expense	85,000
Other selling expenses	43,000

Required:

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

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

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