Ezekiel Corporation gathered the following information for the fiscal year ended December 31, 2020:

Sales $1,300,000

Discontinued operations loss 110,000

Selling and administrative expenses 160,000

Cost of goods sold 900,000

Loss on sale of equipment 40,000

Nola Corporation is subject to a 30% income tax rate.

Instructions

Prepare a partial income statement, beginning with income before income taxes. (show the steps please!)