Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $55,000 Cost of Goods Sold $665,000 Dividend Income (Flip owns less than 20% of the other corporation) $6,500 Interest Expense $8,000 Municipal Bond Interest Income $8,500 Other Operating Expenses $450,000 Sales $2,155,000 Wages and Salaries $530,000 Calculate Flip's taxable income for the current year.