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Question 1 National Semiconductor Inc. earned $90,000 and $110,000 of income from continuing operations after taxes in Years 1 and 2, respectively. The corporate tax

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Question 1 National Semiconductor Inc. earned $90,000 and $110,000 of income from continuing operations after taxes in Years 1 and 2, respectively. The corporate tax rate is 40%.1 The firm decided to sell one of its business segments on November 1, Year 1. The expected disposal date is February 1, Year 2. The segment's income was a pre-tax loss of $20,000 (not included in income from continuing operations) for Year 1 through November 1, Year 1. However, the segment earned $30,000 pre-tax income for the remainder of Year 1 and was expected to earn $25,000 pre-tax in Year 2 to the disposal date. The selling price of the segment is $100,000 and the book value of net assets is $130,000. During Year 2, the segment actually earned $40,000 pre-tax. Required For both years, prepare the bottom portion of the income statement, starting at Income from continuing operations.? For any net numbers, clearly show calculations either on statement or as a

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