Colfax Corporation's financial statements for the current year include the following: Income from continuing operations Income tax expense Prior period adjustment (decrease in prior year net income, net of taxes) Cash dividends paid to preferred stockholders Gain from discontinued operations (net of taxes) Non-recurring loss $ 596,400 $ 104,000 $ 115,800 $ 33,320 $ 643,200 $ 88,400 On the basis of this information, net income for the current year is: Multiple Choice $1,047,200 $376,600 O $492,400 O $1,135,600