Flip's Pizzeria Inc. has the following financial items for the current year:

Advertising Expenses $90,000

Cost of Goods Sold $615,000

Dividend Income (Flip owns less than 20% of the other corporation) $6,500

Interest Expense $6,000

Municipal Bond Interest Income $9,500

Other Operating Expenses $345,000

Sales $2,175,000

Wages and Salaries $410,000

Calculate Flip's taxable income for the current year.

Taxable income (Net operating loss) =