Problem 7-11 (IAA) Sky Company reported the following data for the curent year: 700,000 500,000 2,250,000 1,000,000 Income from continuing operations Selling and administrative expenses Income before income tax Net income 1.. manantod oe income ar loco from Prepare Income Statement discontinued operaturo. a. 700,000 income b. 500,000 income c. 100,000 loss d. 200,000 loss