ACCT 3110 1. Income statement- Discontinued operations (8) Melange Company had two divisions, one selling fashionable clothing and the other designer shoes. Both di visions are considered separate components as defined by generally accepted accounting principles. The designer shoes component had been unprofitable, and on September 1, 201 completed on December 15, 2016, at a pri assets was $1,450,000. 6, the company adopted a plan to sell the assets of the division. The actual sale was ce of $875,000. The book value of the division's The division incurred a before-tax operating loss from operations of $240,000 from the beginning of the year through December 15. The income tax rate is 35%. Eortune's after-t income from its continuing operations is $540,000. ax Required: Prepare an income statement for 2016 beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 weighted shares of common stock were outstanding during the year. Melange Company (Partial) Income Statement Income/Loss from Continuing Operations Income/Loss from Discontinued Operations