11. (5 points) Information (in dollars) related to L Service Company for 2016 follows.

Sales revenues 12,350,000

Cost of services provided 5,000,000

Selling, general, and administrative expenses 2,670,000

Investment income 187,000

Gain on the disposalof the tax preparation division* 825,000

Operating income of the tax preparation division up until its disposal* 922,000

Interest expense 147,000

Miscellaneous expenses 84,000

*The tax preparation division was considered a component.

Prepare an income statement in good form for the year 2016. Assume a 32% tax rate and that 140,000 shares of common stock were outstanding during all of 2016.