On December $31,$ the end of the current fiscal year, Standard Microchip Corporation held its semiconductor business for sale at year$-$end. The semiconductor business segment qualifies as a component of the entity according to GAAP. Consider the following additional information:

The estimated fair value of the segment$$s assets, less costs to sell, on December $31$ was $$6,000,000.$

The book value of the assets of the segment at the time of the sale was $$4,800,000.$

The loss from operations of the segment during the current year was $$3,900,000.$

Pretax income from other continuing operations for the year totaled $$6,840,000.$

The income tax rate is $25\%.$

Required:

Prepare the lower portion of the income statement beginning with income from continuing operations before income taxes.

Note: Formulas for expenses and losses must return a negative value.

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