Question: Calculate the net income from the given data Cost of goods sold . . . . . . . . . . . . .

Calculate the net income from the given data

Cost of goods sold . . . . . . . . . . . . . . $53,000


Payment of dividends . . . . . . . . . . $8,000 


Other operating expenses . . . . . . . . $13,000 


Proceeds from issuance of stock . . . $79,000 


Depreciation expense . . . . . . . . . . . . $22,000 


Purchase of treasury stock . . . . . . . . $16,000 


Purchase of equipment with cash . . $28,000 


Sales revenue . . . . . . . . . . . . . . . . . . $118,000 


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