Income Statement Sections

During the current year, Dale Corporation sold a segment of its business at a gain of $$367,500.$ Until it was sold, the segment had a current period operating loss of $$131,250.$ The company had $$1,487,500$ from continuing operations for the current year.

Prepare the lower part of the income statement, beginning with the $$1,487,500$ income from continuing operations. Follow tax allocation procedures, assuming that all changes in income are subject to a $30\%$ income tax rate. Disregard earnings per share disclosures. $($Round all calculations to nearest dollar amount.$)$

$\backslash$table$[[\backslash$table$[[$Dale Corporation$],[$Partial Income Statement$],[$Current Year$]],,,],[$Income from continuing operations,,,$$1,041,250x$