Use the appropriate information from the data provided below to calculate operating income for the year ended December 31, 2011.

Cost of goods sold General and administrative expenses Net cash provided by financing activities Dividends paid Extraordinary loss from a flood, net of tax savings of $32,000 Income tax expense Other selling expenses $117,000 48,000 69,000 16,000 74,000 11,000 26,000 Net sales 278,000 Advertising expense 39,000 33,000 Accounts receivable