Corpus Christi Corporation reported the following pretax (and taxable) information for 2010:

Income from continuing operations……………………………………….…$400,000

Loss on disposal of Segment Bongo………………………………………….. 40,000

Extraordinary flood loss……………………………………………………...…..60,000

Prior period adjustment-Depreciation was understated in 2009…………….12,000

Gain from operations of discontinued Segment Bongo……………….…….. 20,000

Income tax rate……………………………………………………………...……...30%

Required:

Prepare the lower portion of Corpus Christi's 2010 income statement, beginning with pretax income for continuing operations.