Cullumber Ltd$.$ has profit from continuing operations of $$380,000$ for the year ended December $31,2024.$ It also has the following

before considering income tax: a net gain of $$49,000$ from the discontinuance of a component of the entity, which includes a $$73,0$

profit from the operation of the segment and a $$24,000$ loss on its disposal.

Assume that the income tax rate on all items is $30\%.$

Prepare a partial income statement, beginning with profit from continuing operations, using the all$-$inclusive format.

CULLUMBER LTD$.$

Partial Statement of Income