Gomez Inc. reported the following pretax amounts for 2020. Assuming an income tax rate of 25%, prepare the income statement beginning with Operating income. Ignore the earnings per share disclosures.

Account	2020
Loss from discontinued operations	$ 144,000
Gain on sale of investments	15,000
Interest expense	54,000
Operating income	1,200,000
Loss on sale of patent	144,000

• Do not use negative signs with any of your answers.

$ 1,200,000 15,000 Atlanta Corp. Income Statement For the Year Ended December 31, 2020 Operating income Other revenues and gains Gain on sale of investments Other expenses and losses Interest expense Loss on sale of patent Income before income taxes Income tax expense Income from continuing operations Discontinued operations Loss from discontinued operations, ne Net income 8,000 144,000 1,063,000 X 265,750 x 797,250 x 144,000 x 653,250 x