Net Income Calculation from Company XYZ's Income Statement

Company XYZ has recently released its income statement for the fiscal year ending December 31, 2022. It reported the following:

• Total Revenue: $2,000,000
• Cost of Goods Sold: $1,200,000
• Operating Expenses: $500,000
• Interest Expense: $100,000
• Tax Rate: 30%

What is the net income reported on the income statement for Company XYZ?