Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December $31,2021,$ year$-$end trial balance contained the following income statement items:Account TitleDebitsCreditsSales revenue$$14,300,000$Interest revenue$68,000$Loss on sale of investments$$118,000$Cost of goods sold$6,380,000$Selling expenses$638,000$General and administrative expenses$1,700,000$Interest expense$58,000$Research and development expense$1,380,000$Income tax expense$918,000$Required:Calculate the company's operating income for the year.