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 $8,000 Provision for income taxes Net sales Interest expense Net cash provided by operations Cost of goods sold $106,000 170,000 77,000 24,000 35,000 948,000 97,000 296,000 521,000 Required: 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 Expenses: b. Calculate the company's net income for 2019