E5-8 (similar to) Question Help Chic HomesCoporatio, prvided he blowing staterert of net none on December 31, 2018, betre hedisposal of a The moble hom e dwson acorts for 20% of sans cost of goods sold sing, ae general and admi trate business segment. The income statement indludes the results of operations of Chic's mobile home division. The oompany made a commitment to dispose of the moble home division on December 1, 2018 El (Click the ioon to view the December 31, 2018 statement of net income before the disposal of the mobile homeBequirement division.) expenses. Assume no gain or loss on remeasurement of the division Prepare the multiple-step income staement for 2018 only, assuming that Chic selis the segment on December 31 at a $125 pretax loss Round to the nearest dollar. (Use the condensed income statement format and assume the company is subject to 40% roome tax rate Round youran rs tothe nearest whole delar use preteses or a minus sign to For the Year Ended December 31 2018 Income Statement before disposal of segm LesxCont of Goods Sakd Gross Pro Selling Expenses General and Administrative Expenses Chic Homes Corporation Income Statement Fer the Year Ended December 31, 2018 Sales $900 Cost of Goods Sold Gross Prof Seling Expenses Genoral and Administrative Expensers Other Reverues and Expenses Loss on Asset Impairment Income Before Tax Income Tax Expense (at 40%) Not Income $ 730 S 580 336