The following information is available from the accounting records of Spenser Co. for the year ended December 31, 2019: Selling, general, and administrative expenses Accounts payable Research and development expenses Loss from discontinued operations, net of tax savings of $5,500 Provision for income taxes Net sales Interest expense Net cash provided by operations Cost of goods sold Required: $ 56,100 93,500 40,700 17,600 81,400 636,900 70,400 162,800 299,200 a. Calculate the operating income for Spenser Co. for the year ended December 31, 2019. SPENSER CO. Operating Income Statement For the year ended December 31, 2019 Net sales Cost of goods sold Expenses: Selling, general, and administrative expenses Research and development expenses Loss from discontinued operations, net of tax savings $ 636,900 (299,200) $ 337,700 $ (56,100) (40,700) (12,100) (108,900) $ 228,800 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted.