Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2018, year-end trial balance contained the following income statement items:

Required:
Calculate the company's operating income for the year.

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Debits Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Research and development expense Income tax expense Credits 12,500,000 50,000 100,000 6,200,000 620,000 1,520,000 40,000 1,200,000 900,000