Agave Company decided on February 1st to dispose of its Tequila Distilling division. Agave sold the Tequila Division on September 1st for a sales price of $440,000 but had to pay $20,000 in sales commissions. At the time of the sale, the division had a book value of $300,000. In the time between February 1st and September 1st, the Tequila division reported a loss from operations of $16,000. Agave Company has a tax rate of 30%. Starting with Income from Continuing Operations of $800,000, complete the following partial Income Statement: