A company has the following results for the year ending December 31, 2020

Sales Revenue	$4,995,000
Cost of Goods Sold	$1,785,000
Salaries and Wages Expense	$602,000
Sales Commissions	$575,000
Sales Discounts	$490,000
Other Administrative Expenses	$307,000
Depreciation of Equipment	$189,000
Rent Revenue	$120,000
Advertising Expense	$85,000
Interest Expense	$55,000
Dividend Revenue	$30,000
Loss of Sale of Investments	$7,000

On September 1, 2020, the company decided to eliminate a division. During 2020, losses relating to the eliminated division total $253,000. The above results in the table do not include this amount.

The company's income tax rate is 40%. All given amounts are pre-tax figures.

What is the company's net income or loss from 2020?