Esquire Comic Book Company had income before tax of $1,550,000 in 2021 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 $395,000. The division generated before-tax income from operations from the beginning of the year through disposal of $610,000. The company incurred restructuring costs of $60,000 during the year. Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25%. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.)

Esquire Comic Book Company had income before tax of $1,550.000 in 2021 before considering the following material items: 1 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 $395.000. The division generated before-tax income from operations from the beginning of the year through disposal of $610.000. 2. The company incurred restructuring costs of $60,000 during the year Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations Assume an income tax rate of 25 Ignore EPS disclosures. (Amounts to be deducted should be Indicated with a minus sign.) E SURE COMIC BOOK COMPANY Partial income Statement Eorth Year Ended December 31, 2021 income from continuing operations Dise come from operations discontinued component opet tim