Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2024, year-end trial balance contained the following income statement items:

Required:
Calculate the company’s operating income for the year.

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Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Selling expense General and administrative expense Interest expense Research and development expense Income tax expense Debits $ 100,000 6,200,000 620,000 1,520,000 40,000 1,200,000 900,000 Credits $12,500,000 50,000