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.