Crane Ltd$.,$ a private company based in Vancouver, decided to sell its Industrial Design Division. After two years of losses and heavy competition, a plan to dispose of the division was put in place. At the end of $2023,$ the plan was finalized and approved by the board of directors. The sale is anticipated to be completed by June $30,2024.$

Other information:

$1.$ Crane's $2023$ after$-$tax income $($excluding the results from the Industrial Design Division$)$ was $$382,500.$

$2.$ During the year, the division reported an after$-$tax loss of $$102,000($revenues: $$25,500,$ expenses: $$127,500).$

$3.$ Management estimates that after$-$tax legal fees of $$27,200$ as well as after$-$tax severance payments of $$56,100$ will be required to finalize the disposal plan. A portion of these costs is expected to be offset by the after$-$tax proceeds of $$51,900$ from the sale of the division's assets.

Assuming the Industrial Design Division qualifies for treatment as a discontinued operation, prepare a partial income statement for Crane for $2023.$ The statement should begin with income from continuing operations.CRANE LTD$.$

Partial Income Statement

For the Year Ended December $31,2023$

Loss on Discontinued Operations $($Net of Tax$)$

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Loss on Disposal of Discontinued Operations $($Net of Tax$)vv$