General's Inc. has the following financial items for the current year: Advertising Expenses $55,000 Cost of Goods Sold $660,000 Other Operating Expenses $305,000 Sales $2,845,000 Wages and Salaries $495,000 Capital Loss $40,000 Calculate General's taxable income for the current year. 2 Taxable Income (Net Operating Loss)- 4 6 8 9 10