Flip's Pizzeria Inc. has the following financial items for the current year: Advertising Expenses $60,000 Cost of Goods Sold $720,000 Other Operating Expenses $405,000 Sales $1,990,000 Wages and Salaries $440,000 Capital Gain $40,000 Calculate Flip's taxable income for the current year. 2 Taxable income (Net Operating Loss)- 4 8 9 10