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 Net cost of purchase 784,000 Inventory 31/12/2019 Selling expenses 128,000 Provision for unusual write - offs administrative expenses 150,000 Earthquake loss ( Extraordinary ) Cash 60,000 Common stock 200,000 Accumulated depreciation 180,000 Dividends income 11,000 Interest expenses 17,000 $ 152,000 125,000 24,000 76,000 Required: the operating income (loss) for the year is: