Esquire Comic Book Company had income before tax of $1,800,000 in 2016 before considering the following material items 33 1. Esquire sold one of its operating divisions, which qualified according to generally accepted accounting principles. The before-tax loss on disposal was $430,000. The division generated before-tax income from operations from the beginning of the year through disposal of $660,000. Neither the loss on disposal nor the operating income is included in the $1,800,000 before-tax income the company generated from its other divisions. as a separate component 22 points 01:3825 2. The company incurred restructuring costs of $85,000 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.) eBook Print References ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2016 Income from continuing operations Discontinued operations gain (loss) Geaen Hi Prev 3 of 8 Type here to search 99+ 11