$6)$ Canton Corporation reported the following items in its adjusted trial balance for the year ended December $31,2024$:

Income from continuing operations before income taxes $ $120,000$

Gain on disposal of discontinued component $28,000$

Loss from operations of discontinued component $(60,000)$

Canton is subject to a $25\%$ tax rate.

Required:Prepare the December $31,2024,$ income statement for Canton Corporation, starting with income from continuing operations before income taxes.