Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $50,000 Cost of Goods Sold $705,000 Other Operating Expenses $510,000 Sales $2,675,000 Wages and Salaries $475,000 Capital Gain $30,000 Calculate Flip's taxable income for the current year. A B C D E 1 2 Taxable Income (Net Operating Loss)= 3 4 5 6 7 8 9 10