Drab Corporation, a calendar year S corporation, had the following transactions during 2016.
Sales............................................................. $1,500,000
Cost of Goods Sold .......................................... 700,000
Long-term capital gain ....................................... 10,000
Short-term capital loss ....................................... 5,000
Amortization of organizational expenditures .............. 1,000
Salary expense ................................................ 100,000
Rent expense .................................................. 50,000
Tax-exempt interest ........................................... 10,000
What is Drab's taxable income for 2016?