EXAM 2 INFO SHEETTRIAL BALANCE FOR PROBLEMS 1-3Presented below is the final adjusted trial balance of the 2016 year-end account balances ofCougar Corp, a merchandising company.Other relevant information:1. Cougar Corp disposed of their Widget Division during 2016.2. Cougar Corp had 40,000 common shares outstanding during 2016.3. Cougar Corp paid $20,000 in dividends on common stock, and $0 in preferred dividendsin 2016.4. Assume a tax rate of 35% for all income statement items.What is income from operations for 2016? Do not use decimals or dollar signs ($).What is income from operations for 2016? Do not use decimals or dollar signs ($).What is net incomefor2016? Do not use decimals or dollar signs($).
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