Esquire Comic Book Company had income before tax of $1,800,000 in 2024 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 $420,000. The division generated before-tax income from operations from the beginning of the year through disposal of $660,000.
2. The company incurred restructuring costs of $85,000 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.

\begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ ESQUIRE COMIC BOOK COMPANY } \\ \hline \multicolumn{1}{|c|}{ Fortial Income Statement } \\ \hline \multicolumn{1}{|c|}{ For the Year Ended December 31, 2024 } \\ \hline Income from continuing operations & & \\ \hline Discontinued operations: & & \\ \hline & & \\ \hline & & \\ \hline Income (loss) on discontinued operations & & \\ \hline Net income (loss) & & \\ \hline \hline \end{tabular}