Question 16 (3 points) Dawg Corp. has operating income (income from operations) of $1,000,000. It also has the following items reported in the financial statements: Unusual loss from pandemic 250,000 Gain on disposal of discontinued component 125,000 Loss on sale of equipment 80,000 Interest revenue 10,000 Decrease in prior year's income resulting from change in accounting principle 60,000 Assuming a tax rate of 20%, what is the amount of "income from continuing operations that Dawg Corp. will report on its income statement? $544,000 O $644,000 $560,000 $596,000 $496,000 Question 17 (3 points) Ellavie Company decided to sell a component that it tracks for financial reporting purposes on June 1, Year 8. The sale date is planned for January 31, Year 9. It is currently December 31, Year 8 and the company is preparing its year-end financial statements. The component earned revenues of $250,000 and incurred expenses of $150,000 during Year 8. The book value of the component at year-end totals $2,400,000 and Ellavie's expected sale price totals $1,900,000. Assume a tax rate of 20%. The total impact of the discontinued operations in the Year 8 financial statements is $1,600,000 O $0 O ($400,000) $80,000 ($320,000)