I need help with this income statement question with explanations! Thank you ;)

Problem 3 (10 Points) For the year ending December 31, 20X7, Dwight Corporation hadincome from continun before taxes ofS750,000 before considering the following transactions and events. (The tollowhng items have hot the items described below are before income taxes. continuing operations uded in the $750,000. th 000. If they should-be, then you need to adjust for that.) All of 1. During 20X7, Dwight's management determined that some of its inventory is obsolete, an inventory write-off would amount to $40,000. buoo 2. In 20X7, Dwight sold one of its divisions, which qualifies as a component under SFAS 144. The division was sold for $200,000 and the book value of the division was $150,000. During 20X7 the sold division generated an operating loss of $37,500 prior to its sale. was considered by management to be both unusual and infrequent. Within Dwight Corp's income from operations is a 75% controlling interest in Abe Company ,a 3. During 20X7, Dwight had a loss of $80,000 in an office building due to an-earthquake; the loss 4. Required: In the space below, using good form, prepare Dwight's partial income statement starting with income $50,000 of net income is attributed to the other 25% ownership of Abe Company. from continuing peration before taxes. Assume that Dwight is subject to a 30% tax rate during 20X7. (Do not include the EPS disclosures). Hint: if you think any of the four items above should appear in lines above income from continuing operations before taxes, then adjust that number ($750,000) to reflect the effect. SHOW ALL WORK CLEARLY LABELED FOR FULL OR PARTIAL CREDIT