Question 1 1 pts Desert Company reported the following nominal account items for the year ended 2018 Sales 1.100.000 COGS 215,000 Research and Development 14.000 Gain on Land Sale 35,500 Selling Expenses 240.000 Unrealized Foreign Currency Translation Gain 42.000 Unrealized Holding Loss on Trading Securities 10,000 Preferred Stock Dividends Declared 55,000 Unrealized Holding Gain on AFS 51.000 Securities Common Stock Dividends Declared 15,000 Labor strike loss (1 * ever) 10,900 Dividend Revenue 17800 Sales Discount 20,000 On-going Restructuring Costs 16,000 In 2017, Desert, Co. discontinued its Book division, but the disposal did not take place until 2018 In 2017, the Book division had a pretax operating income of $210,000. The Book division had a historical cost of $3,800,000 and Accumulated Depreciation of $2,100 000. At the end of 2017, the fair value of the Book division was $1,580,000 with an estimated cost of disposal of $500,000 In 2018, the Book division had a pretax operating income of $170.000. The sales price of the Book division was $1.480.000, but Desert had to pay $258,000 cost to sell the Book division Income tax expense for the year has yet to be accrued Desert's income tax rate is 35% on all items Using this information calculate Desert's Income from Operations for 2018 Question 2 1 pts Using the information in Question 1 and your prior calculations, determine Desert's Income from Continuing Operations for 2018