Esquire Comic Book Company had income before tax of $1,950,000 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 $435,000. The division generated before-tax income from operations from the beginning of the year through disposal of $690,000. 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.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021 $ 1,417,500 Income from continuing operations Discontinued operations: Income from operations of discontinued component Income tax expense 255,000 (63,750) Income from operations of discontinued component 191,250 Income (loss) on discontinued operations Net income (loss) 382,500 $ 1,608,750