ABC Corporation's capital structure consists of 20,000 shares of common stock outstanding. On December 31, 2019, an analysis of accounts revealed the following information: Sales $1,350,000 Inventory 1/1/2019 $152,000 Net cost of purchase 784,000 Inventory 31/12/2019 125,000 Selling expenses 128,000 Provision for unusual write-offs 24,000 Administrative expenses 150,000 Earthquake loss (Extraordinary) 76,000 Cash 60,000 Common stock 200,000 Accumulated depreciation 180,000 Dividends income 11,000 Interest expenses 17,000 Required: the operating income (loss) for the year is