Major Co. reported 2016 income of $316,000 from continuing operations before income taxes and a before-tax loss on discontinued operations of $77,000. All income is subject to a 32% tax rate. In the 2016 income statement, Major Co. would show the following line-item amounts for income tax expense and net income: Multiple Choice $76,480 and $214,880. $101,120 and $162,520. $101,120 and $239,000. $76,480 and $393,000