Calculating Net Income from an Income Statement

A company, XYZ Corp, has provided its income statement for the year 2023. It has reported total revenues of $1,200,000 and total expenses of $900,000. The income statement shows various expense categories such as Cost of Goods Sold (COGS), selling, general and administrative expenses (SG&A), and interest expense. However, it does not detail the income tax expense explicitly. What is the net income reported by XYZ Corp for the fiscal year 2023?