Given the following information, compute for net income/loss

Sales - 27,940,000

Sales discount - 279,400

Sales return and allowances - 558,800

Cost of goods sold - 21,972,168

Depreciation expense building - 70,000

Depreciation expense office equipment - 500,000

Depreciation expense store equipment - 400,000

Income tax expense - 0

Income tax payable - 0

Interest expense - 96,000.00

Interest income - 100,000.00

Insurance expense of goods sold in transit - 271,020.00

Office supplies expense - 135,510

Store supplies expense - 271,020

Rental income - 240,000

Salaries and wages of admin employees - 2,032,650

Salaries and wages of sales agents - 1,355,100

Freight-out - 1,355,100

Loss due to fire - 500,000

Deficit - 4,070,480