The Filzinger Corporation’s December 31, 2018 year-end trial balance contained the following income statement items:

 

Required: 

Calculate the company’s operating income for the year using a single-step income statement format.

Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Research and development expense Income tax expense Debits 4,270,000 250,000 923,000 25,000 500,000 140,000 Credits 6,575,000 65,000 47,000