Lance Corporation had income from continuing operations of $900,000 (after taxes) in 2019. In addition, the following information, which has not been considered, is as follows. 1. In 2019, Lance adopted the double-declining balance method of depreciating equipment. Prior to 2019, Vance had used the straight-line method. The change decreases income for 2019 by $60,000 (pre-tax) and the cumulative effect of the change on prior years' income was a $250,000 (pre-tax) decrease. 2. A machine was sold for $240,000 cash during the year at a time when its book value was $160,000. (Depreciation has been properly recorded.) The company often sells machinery of this type. 3. Lance decided to discontinue its stereo division in 2019. During the current year, the loss on the disposal of the segment of the business was $180,000 less applicable taxes.

 -Present in good form the income statement of Lance Corporation for 2019 starting with "income from continuing operations." Assume that Lance's tax rate is 40% and 100,000 shares of common stock were outstanding during the year.