Exercise 4-1 (Static) Operating versus nonoperating income (L04-1) Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2021, year-end trial balance contained the following income statement items: Debits Credits $12,500,000 50,000 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 $ 100,000 6,200,000 620,000 1,520,000 40,000 1,200,000 900,000 Required: Calculate the company's operating income for the year. Total operating revenue Less operating expenses: Total operating expenses Operating income