Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $85,000 Cost of Goods Sold $615,000 Dividend Income (Flip owns less than 20% of the other corporation) $2,000 Interest Expense $12,000 Municipal Bond Interest Income $8,000 Other Operating Expenses $460,000 Sales $2,820,000 Wages and Salaries $430,000 Calculate Flip's taxable income for the current year.