Chapter 12 Assignment i 9 Saved 15 points A company has operating income of $0.8 million, a loss on write-down of inventory of $110,000, and income tax expense of $200,000 for the year ended December 31, Year 1, before considering the following item: a $185,000 gain, after tax, from the disposal of an operating segment. Required: Prepare the Year 1 multiple step income statement for the company beginning with operating income. (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000).) eBook Income Statement For the Year Ended December 31, Year 1 Operating income Hint Inventory write-down Income before tax Income tax expense Print Income from continuing operations $ 800,000 110,000 690,000 200,000 490,000 Discontinued operation: References Gain from disposal of operating segment, net of tax 185,000 Net income