For the year ending Dec br 31, 2018, Benson Corporation had income from continuing operations before taxes of $1,340,000 before considering the following transactions and events. All of the items described below are before taxes and the amounts should be considered material. 1. In November 2018, Benson sold its Pancake Village restaurant chain that qualified as a component adopted a plan to $174,000 and the loss on sale of the chain's assets was $328,000. 2. In 2018, Benson sold one of its six factories for $1,480,000. At the time of the sale, the factory had a book value of $1,240,000. The factory was not considered a component of the entity. 3. In 2016, Benson's accountant omitted the annual adjustment for patent amortization expense of $134,000. The error was not discovered until December 2018 rom operations of the chain from January 1, sell the chain in May 2018. T operations of the chain from January 1, 2018, through November was Required: Prepare Benson's income statement, beginning with income from continuing operations before taxes, for the year ended 31, 2018, Assume an income tax rate of 40%. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.) 31, 2018 the of on