Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2018, year-end trial balance contained the following income statement items:

Account Title	Debits	Credits
Sales revenue		13,300,000
Interest revenue		58,000
Loss on sale of investments	108,000
Cost of goods sold	6,280,000
Selling expenses	628,000
General and administrative expenses	1,600,000
Interest expense	48,000
Research and development expense	1,280,000
Income tax expense	908,000

Required: Calculate the companys operating income for the year.