Howard Co.'s 2021 income from continuing operations before income taxes was $290,000. Howard Co. reported before-tax income on discontinued operations of $67,000. 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 $223,000 and $273,250 respectively. $72,500 and $267,750 respectively. $357,000 and $306,750 respectively. $267,750 and $72,500 respectively.