Monty Corp.'s income statement for the year ended December 31, 2020, had the following condensed information: Sales revenue $770,300 Operating expenses (excluding depreciation) $487,000 Depreciation expense 59,000 Unrealized loss on FV-NI investments 4,300 Loss on disposal of equipment 14,000 564,300 Income before income taxes 206,000 Income tax expense Net income 50,000 $156,000