Esquire Comic Book Company had income before tax of $1,600,000 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 $400,000. The division generated before tax income from operations from the beginning of the year through disposal of $620,000 2 The company incurred restructuring costs of $65,000 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 Partiat Income Statement For the Year Ended December 31, 2021 S 1 151,250 Income from continuing operations Discontinued operations Income from operations of discontinued component Income tax expense 220.000 Income (loss) on discontinued operations Net Income loss) 220.000 $ 1316 250