You are given the following accounts for ABC Company, on 31 December 2020:

Accounts Receivable $ 26,000

Sales discounts $4,200

Sales Revenue $ 628,000

Cost of goods purchased $ 288,000

Interest Expense $ 3,520

Accounts payable $ 45,000

Beginning Inventory (1/1/2020) $ 92,300

Land $ 120,000

Unearned Revenue $ 12,000

Sales returns and allowances 9,300

Salaries Expense $ 60,000

Other Operating Expenses $ 75,000

Prepaid Rent $ 12,000

Ending Inventory (31/12/2020) $50,500

Rent Revenue $ 8,200

Salaries payable $ 3,800

Required: Calculate the net Income (loss) for the Company, for the year ended 31/12/2020.