Esquire Comic Book Company had income before tax of $1,000,000 in 2024 before considering the following material items:
1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $340,000. The division generated before-tax income from operations from the beginning of the year through disposal of $500,000.
2. The company incurred restructuring costs of $80,000 during the year.

Required:
Prepare the income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures.