Crane Corporation gathered the following information for the fiscal year ended December $31,2020$:

Sales

$$1,540,000$

Operating expenses

$154\mathrm{.}000$

Cost of goods sold

$972,000$

Loss on disposal of equipment

$42,500$

Crane Corporation is subject to a $30\%$ income tax rate.

Prepare a partial income statement, beginning with income from operations.