Howard Co's 2021 income from continuing operations before income taxes was $295,000. Howard Co. reported before tax income on discontinued operations of $65,000, All tax items are subject to a 25% tax rate. In its income statement for 2021. Howard Co, would show the following line-Item amounts for income tax expense and net income: Multiple Choice $270,000 and $73,750 respectively $360,000 and $311,250 respectively $73,750 and $270,000 respectively $230,000 and $278,750 respectively