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

Income tax expense has not yet been recorded. The income tax rate is 25%. Determine the following: 

(a) Operating income (loss), 

(b) Income (loss) before income taxes, 

(c) Net income (loss).

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Account Title Sales revenue Loss on sale of investments Interest revenue Cost of goods sold General and administrative expense Restructuring costs Selling expense Income tax expense Debits $ 22,000 160,000 40,000 50,000 25,000 ? Credits $300,000 4,000