Edwards Corporation reported the following pretax and taxable income items from 2019:

Expenses	$ 65,800
Gain from the disposal of the discontinued division	8,000
Income from continuing operations	59,200
Loss from discontinued division	(15,900)
Revenues	125,000
Required:

1) Prepare the journal entries for 2019 to record the intraperiod income tax allocation. The tax rate for the first $30,000 of income is 15% the tax rate thereafter is 35%.

2) Prepare the 2019 income statement for Edwards Corporation. (Heading is not necessary)