Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2024, year-end trial balance contained the following income statement items:

Account Title	Debits	Credits
Sales revenue		$ 14,500,000
Interest revenue		70,000
Loss on sale of investments	$ 120,000
Cost of goods sold	6,400,000
Selling expenses	640,000
General and administrative expenses	1,720,000
Interest expense	60,000
Research and development expense	1,400,000
Income tax expense	920,000

Required:

Calculate the companys operating income for the year.