Shaquille Corporation has operating income of $1.7 million, a loss on write-down of inventory of $200,000, and

Question:

Shaquille has operating income of $1.7 million, a loss on write-down of inventory of $200,000, and income tax expense of $425,000 for the year ended December 31, 2018, before considering the following item: a $275,000 gain, after tax, from the disposal of an operating segment.
Required:
Prepare the 2018 multiple step income statement for Shaquille beginning with operating income.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...