Sage Hill Corporation gathered the following information for the fiscal year ended December 31, 2020:

Sage Hill Corporation gathered the following information for the fiscal year ended December 31, 2020: Sales $1,350,000 Discontinued operations loss 120,000 Selling and administrative expenses 157,000 Cost of goods sold 902,000 Loss on sale of equipment 47,500 Sage Hill Corporation is subject to a 30% income tax rate. Prepare a partial income statement, beginning with income before income taxes. SAGE HILL CORPORATION Partial Income Statement