On December 31, 2024, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $15 million. The semiconductor business segment qualifies as a component of the entity according to GAAP. Consider the following additional information.

• The book value of the assets of the segment at the time of the sale was $13 million.
• The loss from operations of the segment during 2024 was $4.8 million.
• Pretax income from other continuing operations for the year totaled $7.8 million.
• The income tax rate is 25%.

Prepare the lower portion of the 2024 income statement beginning with income from continuing operations before income taxes.

Note: Loss amounts should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. For example, $4,000,000 rather than $4.