Kandon Enterprises, Inc, has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2021, Kandon adopted a formal plan to sell the division. The sole was completed on April 30, 2022 Al December 31, 2021, the component was considered held for sale On December 31, 2021, the company's fiscal year-end, the book value of the assets of the horse division was $273,000. On that dato. the fair value of the assets, less costs to sell was $230,000. The before tax loss from operations of the division for the year was $170,000. The company's effective tax rate is 25%. The after tax income from continuing operations for 2021 was $430,000 Required: 1. Prepare a partial income statement for 2021 beginning with income from continuing operations. Ignore EPS disclosures 2. Prepare a partial income statement for 2021 beginning with income from continuing operations. Assume that the estimated netfair value of the horse division's ossets was $460,000, instead of $230,000. Ignore EPS disclosures Prepare a partial income statement for 2021 beginning with income from continuing operations. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.) KANDON ENTERPRISES, INC. Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations Discontinued operations gain (loss): Net income (loss) KANDON ENTERPRISES, INC. Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations Discontinued operations gain (loss): 0 Net income (loss)