What is the Net Income?

$ 912,000 |(581,000) 331,000 ELLER EQUIPMENT COMPANY Multistep Income Statement For the Year Ended December 31, 2018 Sales revenue Cost of goods sold Gross margin Operating expenses Salaries expense $ 108,000 Uncollectible accounts expense 31,000 Warranty expense 7,800 Operating expenses 51,000 Depreciation Expense 1,600 199,400 131,600 Total operating expenses Operating income Non-operating Items Interest expense Interest revenue (22,000) 4,800 12,000 Gain on sale of equipment Total non-operating items Net income (14,800) $ 148,400 X