PLEASE SHOW THE STEPS TO HOW YOU GOT THE ANSWER THANK YOU Esquire Comic Book Company had income before tax of $2,000,000 in 2021 before considering the following material items 1 Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles The before tax loss on disposal was $440,000 The division generated before tax income from operations from the beginning of the year through disposal of $700,000 2 The company incurred restructuring costs of $65,000 during the year Required Prepare a 2021 income statement for Esquire beginning with income from continuing operations Assume an income tax rate of 25 Ignore EPS disclosures (Amounts to be deducted should be indicated with a minus sign ) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations Discontinued operations 0 Income (loss) on discontinued operations Net income (loss)

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PLEASE SHOW THE STEPS TO HOW YOU GOT THE ANSWER   THANK YOU  Esquire Comic Book Company had income before tax of $2,000,000 in 2021 before considering the following material items  1  Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles  The before tax loss on disposal was $440,000  The division generated before tax income from operations from the beginning of the year through disposal of $700,000  2  The company incurred restructuring costs of $65,000 during the year  Required  Prepare a 2021 income statement for Esquire beginning with income from continuing operations  Assume an income tax rate of 25   Ignore EPS disclosures  (Amounts to be deducted should be indicated with a minus sign ) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations Discontinued operations  0 Income (loss) on discontinued operations Net income (loss)

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PLEASE SHOW THE STEPS TO HOW YOU GOT THE ANSWER...THANK YOU. Esquire Comic Book Company had income before tax of $2,000,000 in 2021 before considering

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