Esquire Comic Book Company had income before tax of $1, 700,000 in 2016 before considering the following material items: Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles The before-tax loss on disposal was $420,000. The division generated before-tax income from operations from the beginning of the year through disposal of $640,000. Neither the loss on disposal nor the operating income is included in the $1, 700,000 before-tax income the company generated from its other divisions. The company incurred restructuring costs of $75,000 during the year. Required: Prepare a 2016 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 40% Ignore EPS disclosures (Amounts to be deducted should be Indicated with a minus sign.)