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

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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