brief 4-4

Pharaoh Corporation had income from continuing operations of $10, 801, 100 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $199, 400. Prior to disposal, the division operated at a loss of $319, 400 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Pharaoh had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Pharaoh beginning with income from continuing operations