In 2020, Waldo inc., a public company, reported income from continuing operations before income tax of $2,500,000. Additional transactions in 2020 which have not been considered in the $2,500,000 are as follows:

1. Waldo sold equipment for $100,000. The machine had originally cost $180,000 and had accumulated depreciation to date of $110,000.
2. The company suffered a $150,000 loss net of tax from hurricane damage.
3. The company discontinued operations of one of its subsidiaries during the current year. Assume that this transaction meets the criteria for discontinued operations. The loss on operations of the discontinued subsidiary was $200,000 before tax. The loss from disposal of the subsidiary was $90,000 before tax.
4. Waldo had an unrealized gain-OCI of $37,500 net of tax related to its FV-OCI equity investments.

Required: Analyze the above information and complete the partial Statement of Financial Performance for the year 2020, starting with income from continuing operations before income tax. Assume a tax rate of 25% and a December 31 year-end.

Waldo Corp. Statement of Financial Performance (Partial) For the Year Ended December 31, 2020
Income from continuing operations before tax, as previously stated	$2,500,000
Income from continuing operations before tax, as revised
Income tax expense
Income before discontinued operations
Discontinued operations
Net Income
Other Comprehensive Income
Comprehensive income