On October 5, 2023, Diamond in the Sheffield Recruiting Group Inc's board of directors decided to dispose of the Blue Division. A formal plan was approved. Diamond derives approximately 77% of its income from its human resources management practice. The Blue Division gets contracts to perform human resources management on an outsourced basis. The board decided to dispose of the division because of unfavourable operating results. Net income for Diamond was $93,870 for the fiscal year ended December 31, 2023 (after a charge for tax at 30% and after a writedown for the Blue assets). Income from operations of the Blue Division accounted for $4,970 (after tax) of this amount. Because of the unfavourable results and the extreme competition, the board believes that it cannot sell the business intact. Its final decision is to auction off the office equipment. The equipment is the division's only asset and has a carrying value of $24,000 at October 5,2023. The board believes that proceeds from the sale will be approximately $6,000 after the auction expenses. Currently, the equipment's estimated fair value is $9,600. The Blue Division qualifies for treatment as a discontinued operation. Diamond prepares financial statements in accordance with ASPE. (a) Prepare a partial income statement for Diamond in the Sheffield Recruiting Group. The income statement should begin with income from continuing operations before income tax. Diamond in the Sheffield Recruiting Group Inc. Partial Income Statement For the Year Ended December 31,2023 Income from Continuling Operations Income from Operations of the Discontimued Blue Division less Apolicable Income Tax Income from Continuine Ooerations before Income Tax Loss from lmoairment of Assets of Discontinued Ooerations, less Apolicable Income Tax Recovery Income from Continuing Operations Netincome/(Loss) Applicable income Tax Applicable income Tax Recovery Discontinued Operations Income from Continuing Operations Income from Continuing Operations before Income Tax Income from Operations of the Discontinued Blue Division, less Applicable Income Tax Income Tax Expense Loss from Impalrment of Assets of Discontinued Operations, less Applicable Income Tax Recovery Net Income / (Loss) Loss from Imbairment of Assets of Discontinued Ooerations, less Apolicable Income Tax Recoverv. Income from Continuine Operations Discontinued Operations Net Income / (Loss) Diamond in the Sheffield Recruiting Group Inc. Partial Income Statement For the Year Ended December 31, 2023 igits Jiscontinued Blue Division. less Applicable income Tax ions before lncome Tax of Discontinued Ooerations. Iess Apolicable Income Tax Recoverv tions