The following information is available from the accounting records of Spenser Company for the year ended December 31, 2022:

Selling, general, and administrative expenses	$ 106,000
Accounts payable	170,000
Research and development expenses	77,000
Loss from discontinued operations, net of tax savings of $8,000	24,000
Provision for income taxes	35,000
Net sales	948,000
Interest expense	97,000
Net cash provided by operations	296,000
Cost of goods sold	521,000

Required:

Calculate the operating income for Spenser Company for the year ended December 31, 2022.

Calculate the company's net income for 2022.

Calculate the operating income for Spenser Company for the year ended December 31, 2022.

SPENSER COMPANY
Operating Income Statement
For the year ended December 31, 2022
Expenses:

Calculate the company's net income for 2022.

Net income

or

Net loss