Directions: 1. This part of the exam is worth 50 points. (The timed portion is worth 50 points.) 2. Save a copy of this file on your computer. Enter your answers onto this document. 3. Save a copy of your solution and then attach the file and submit it for grading by the due date. Question \#1 Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2021: Canton is subject to a 25% tax rate. Complete the December 31, 2021, income statement for Canton Corporation, starting with income from continuing operations and using the table provided below: (NOTE: Problem and format is similar.to Illustration 4-7 on page 179 of the textbook.) Canton Corporation Partial Income Statement For the Year Ended December 31, 2021