Calculating Net Income from an Income Statement

ABC Corporation recently released its annual income statement for the year ending December 31, 2022. The income statement reported the following key figures:

• Revenue: $2,500,000
• Cost of Goods Sold (COGS): $1,500,000
• Selling, General, and Administrative Expenses (SG&A): $700,000
• Interest Expense: $50,000
• Income Tax Expense: $100,000

Given this information, what is the net income for ABC Corporation for the fiscal year 2022?