Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $90,000 Cost of Goods Sold $780,000 Dividend Income (Flip owns less than 20% of the other corporation) $7,000 Interest Expense $7,000 Municipal Bond Interest Income $8,000 Other Operating Expenses $420,000 Sales $2,115,000 Wages and Salaries $585,000 Calculate Flip's taxable income for the current year.