The following is a partial year-end adjusted trial balance.

Account Title Debits Credits

Sales revenue $490,000

Loss on sale of investments $60,000

Interest revenue 8,000

Cost of goods sold 255,000

General and administrative expense 59,000

Restructuring costs 59,500

Selling expense 34,500

Income tax expense ?

Income tax expense has not yet been recorded. The income tax rate is 25%.

a.Determine the operating income (loss).

b.Determine the income (loss) before income taxes.

c.Determine the net income (loss).