The Filzinger Corporations December 31, 2021 year-end trial balance contained the following income statement items:

Account Title	Debits		Credits
Sales revenue			6,875,000
Interest revenue			77,000
Gain on sale of investments			59,000
Cost of goods sold	3,850,000
Selling expense	490,000
General and administrative expense	983,000
Interest expense	37,000
Research and development expense	740,000
Income tax expense	152,000

Required: Calculate the companys operating income for the year using a single-step income statement format.