Calculating Net Income from Income Statement

Consider a retail company that has reported the following figures on its income statement for the fiscal year ended December 31, 2022:

• Sales Revenue: $2,000,000
• Cost of Goods Sold: $1,200,000
• Operating Expenses: $400,000
• Interest Expense: $50,000
• Income Tax Expense: $150,000

Calculate the company's net income for the fiscal year.