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

Account Title Debits Credits Sales revenue 350,000

Loss on sale of investments 32,000

Interest revenue 6,500

Cost of goods sold 185,000

General and administrative expenses 45,000

Restructuring costs 55,000

Selling expenses 27,500

Income tax expense 0

Income tax expense has not yet been recorded. The income tax rate is 40%.

a. Determine the operating income (loss).

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

c. Determine the net income (loss).