Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $70,000 Cost of Goods Sold $780,000 Other Operating Expenses $535,000 Sales $1,510,000 Wages and Salaries $300,000 Capital Gain $40,000 Calculate Flip's taxable income for the current year. B 1 Taxable income (Net Operating Loss) D 2 3 4 5 6 7 8 9 10