Esquire Comic Book Company had income before tax of $$1,150,000$ in $2024$ before considering the following material items:

Esquire sold one of its operating divisions, which qualified a separate component according to generally accepted accounting principles. The before$-$tax loss on disposal was $$355,000.$ The division generated before$-$tax income from operations from the beginning of the year through disposal of $$530,000.$

The company incurred restructuring costs of $$70,000$ during the year.

Required:

Prepare the income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of $25\%.$ Ignore EPS disclosures.

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$ESQUIRE COMIC BOOK COMPANY$],[$Partial Income Statement,,$],[$For the Year Ended December $31,2024,],[$Income from continuing operations,,$],[$Discontinued operations:,,$],[$Income from operations of discontinued component,$175,000,],[$Income tax expense,$(43,750),],[,,],[$Income $($loss$)$ on discontinued operations,,$],[$Net income $($loss$),,131,250]]$